As a vegetarian that regularly uses plant-based substitutes: I'm super reluctant to believe a market for a product like Beyond ever existed. Between Beyond and Impossible they've got this weird chimera market, especially the latter, with their too-realistic product. If meaters cared they'd switch, there wasn't really a whole lot of fence sitting I don't think—not in reality. I think people were pretty well committed. I also think the sympathetic market of vegetarians and vegans didn't find the premise of these too-realistic products especially thrilling. And I don't think that's a huge market in the first place, at least not in a large portion of the US.
Then you factor in the costs and it's Beyond insanity.
And frankly I don't know if Beyond was doing anything legitimately novel. Impossible was over-engineering their burger to the extent that I wouldn't eat one from any restaurant because I couldn't tell whether it was be'f or beef. Beyond just seemed to be nu-gardein which I'll grant you—it's a Monsanto subsidiary—but the product is palettable, consistent, and available almost universally and has been as long as I've been on the diet, 12 years.