Seagate lost sight of a good product roadmap 3-4 years back. When times are good - it didn’t matter all that much, but when the tide recedes - gaps show up.
HAMR has been a disaster with Heavy D and Beardy J putting so much of the company focus that backup PMR plans were late or half baked - allowing even Tosh to get a foot into Nearline.
There was no focus on a well known scenario of HDD units declining rapidly. No alternate paths for the company to develop adjacencies. Seagate research was a joke and Clueless Ed wasting money.
Pulled the plug on Client HDDs too fast, yet keeping sizeable R&D resources allowing that market to disappear for HDDs faster than it should have.
Now we are left with an existential crisis. The ship is sinking and the captains are still asleep