They had the innovation but, because of the class action, they were afraid to release it. I was using the Clik! drive before Compact Flash (CF) and later SD were ubiquitous.
The Clik! would have been amazing in the digital cameras of the era and manufacturers seemed to be lining up.
But the failure rate was >2% and leadership wanted it under 1% before they would ship. It took two years to close the gap and we all know that’s a lifetime in technology.