They always struck me as a weird niche, as vegetarian food for non-vegetarians.

Most vegetarians I know don't touch "fake meat" because the appearance of it being "real" is enough to put them off of it, the value prop is actually a negative to that market, so you're left with an addressable market of trying to convince non-vegetarians that the ultra processed tofu and/or fungus patty that looks like a hamburger is as good as a hamburger, and as accomodating as I can be, it's just not.