IMHO, it's an example of path dependence. If it had evolved during the CRT -> LCD era, we'd be looking at a very different present.

As is, it's competing against 120hz, mass-produced LED/LCD panels that can scale in price from tablets to TV screens.

It's hard for a "new" tech to have enough of an economic use case, so as to fund its own R&D, so at to become the best version of itself.