Yes they did, and they probably shouldn't have. 75-300 was a lousy lens. A bit of a stain on the otherwise wonderful EF lineup.
Easily the worst EF lens, and they must have made WAY too many because they're still trying to give them away to this day... It shows up as a free throwaway in a bunch of kits.
There's also the 70-300, the latest IS II is one of my favorite lenses (a lot of that has to do with the fact that I can AFFORD it, but I've never felt limited by it at my skill level)
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