IMO,They had an enormous lead in market position, but we have to go far back to find an enormous lead in MF equipment, and they never made the lenses themselves. Coming up with a camera that can regain the position the 500-Series had during its golden days requires technical skill as well as solid marketing competence. This will be interesting to follow.
No, it takes an "enormous" market ... which existed in the "golden" film era because most all pros, including zillions of portrait and event photographers, used MF cameras rather than 35mm film cameras (or along with them) ... and by extension, anyone with the means to participate in the "prestige" of owning a professional level, finely crafted tool ... like the proverbial Engineer, Doctor or Dentist.
That market evaporated when most all media went digital, and 35mm digital debatably became competitive in imagery, and far more competitive in price for the professional photographer. Literally overnight, most wedding, event, and portrait photographers shed their MF cameras.
Face it, a vast amount of work, pro or amateur, can be done with a $3,000 digital camera verses a $30,000 camera ... with the latter depreciating at a ferocious rate.
That said, there are those willing to stretch for that extra bit of quality ... and IMO that defines "luxury" in this specific case, not "false bling luxury".
The word these marketers are missing is "prestige" ... pride of owning that finely crafted tool that stands way from the crowd. Not stand out not just because it is wrapped in a false imitation of luxury like a fashion item.
- Marc