Comment by abetusk

This is a really succinct analysis, thanks.

I'm thinking out loud but it seems like there's some other factors at play. There's a lower threshold of quality that needs to happen (the thing needs to work) so there's at least two big factors, functionality and cost. In the extreme, all other things being equal, if two products were presented at the exact same cost but one was of superior quality, the expectation is that the better quality item would win.

There's always the "good, fast, cheap" triangle but with Moore's law (or Wright's law), cheap things get cheaper, things iterate faster and good things get better. Maybe there's an argument that when something provides an order of magnitude quality difference at nominal price difference, that's when disruption happens?

So, if the environment remains stable, then mediocrity wins as the price of superior quality can't justify the added expense. If the environment is growing (exponentially) then, at any given snapshot, mediocrity might win but will eventually be usurped by quality when the price to produce it drops below a critical threshold.