I am not ignoring your point about supply chain and distribution advantages.
But for myself, I don't discount product innovation and giving the customer something better/newer/shinier than they have seen previously. An iPhone isn't merely the output of an efficient distribution model. It is a shiny object that folks wanted and that does useful things.
When customers are happy, distributors usually are too.
In my experience, there are still plenty of fallow markets in which an innovator can introduce new products, build an efficient supply chain and take advantage of this great new medium for distribution purposes.
But I don't really see that sort of environment for Wave any more. It appears that all kinds of people are trying to control their air. Wave isn't just going to slip in unnoticed.
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