Example: Sony didn't lose the lead in the TV market over one day or one year. It happened little by little that the general opinion of who produced the best TVs was not Sony any more.
Actually, the Japanese companies (Sharp, Sony, Panasonic) lost the entire TV market almost instantly because Samsung offered better technology at a lower price almost 'instantly' (within ~ 2 years).
Please let's consider though that 2 years in the TV world are a much longer time than in the camera world (i.e. we don't consider a 2yo lens to be old).
Also, TVs are a much more fast-paced segment than cameras (i.e. we don't get a new tech generation every year or every 6 months).
But I agree with your explanation: offering more for less eventually let you conquer the market. For slower markets it just takes more time.