if you've ever worked in a bike shop and hear how many people walk in for the first time, look at one bike and say loud enough for everyone to hear "one thousand dollars for a bicycle! I'm not rich!" you'd understand how few people most likely won't buy an e-mtb. they might be convinced to buy a e-bike for utilitarian purposes (it's way cheaper than a car and does most of the things that most people do with a car every week.) here in Austin, we have a bit of a skewed sense of what the country looks like. there are a ton of people willing to pay a relatively large sum of money for a hobby, a gizmo, a novelty car, or a mountain bike with a motor on it. in other words: toys. but that's Austin with it's free-wheelin tech bros. it's an anomaly.
no one is saying that an e-mtb is not fun or that it costs more than it should. it will just take a long time, or never happen, to get enough people to jump onboard for manufacturers to get their R&D costs back. to me, it sounds like they're trying to get everyone on board with helicopter-assisted snowboarding or African big game hunting. in the end, those are hobbies for rich people.
I admit my bias, so maybe my assessment is wrong. my perspective is that, while a mountain bike with a motor sounds like fun, it's an expensive novelty to me. I'd ride one if someone gave me one, but I have what I think is an above average salary that I could not use to justify the purchase and maintenance of such a thing. I just want to ride and dealing with a motor does not sound like fun. I can't even bring myself to put a derailer on my bike.