Then why is ScubaPro introducing a BP/W?The BP/W market is tiny world wide and SP isn't losing much of it actually. SP has strong following around the world and it represents the only manufacture/supplier of dive equipment for many markets in the world. Jacket/back inflate systems are king in the world. Your view is grossly skewed by the people you hang out with not by the market realities. There is a term in psychology used to describe this scenario but I forget it now
While it is likely they aren't worried about the little guys like Deep 6 or XDEEP or DGX specifically, they are obviously concerned enough about the increase in BP/W usage generally to try to counter it. Unlike the old days, they can't control media coverage and the BP/W has an outsize share in social media. I just did a search for "scuba" on YouTube (in incognito mode, so it doesn't give me biased results). The first four videos include people using a BP/W.
And I'll bet they are specifically worried about Halcyon which is an aspirational brand in China, the largest market for new divers. They could easily lose a chunk of the highest profit customers if they don't have a competitive product. Also, they can't ignore the Mares XR line. Mares doesn't have nearly the market share today, but they are a direct competitor in that they have the financial resources that comes with being part of a large conglomerate and they are a full-line manufacturer that is primarily sold through dive shops. And the number of those shops is growing due to their affiliation with SSI.