HF "fanboy" here (well recent convert anyway).
Here is what I can't understand, let's look at pliers to start. Take SO of Knipex as the "defacto" go to brands in the space. Ok, let's just assume we agree. There are probably a dozen knockoffs that are like 60-80% there, but aren't great because of handle design, jaw adjustments, whatever. So no one buys them. Then you have a company like HF basically make the same design for cheaper (although pliers is literally the worst example since the savings is pretty minimal) and it gets a little too close and everyone loses it.
I mean, could you imagine if patents lasted forever? Imagine all the wonky ratchet mechanisms that would be required for every brand to manufacture a ratchet. Almost guaranteed there would be single brand options for the majority of unique or interesting tools. At the end of the day, a company gets something like 20 years to take advantage of their R&D and gets protected first mover advantage. Past that, it's a free for all, which means (generally) a race for improved features or lower cost, and either way the end customer wins.
I know that all my Icon sockets are rip offs of Snappy. As are their ratchets, wrenches, and basically everything they have. I would much prefer to buy the "all american made" original, but I personally just don't see the 5x+ value for it. I'll spend the money on the Harley over the Honda, honestly if for nothing else than the sound, but I won't do the same so that my chrome socket can say "Snap-On" instead of "Icon". YMMV on that.
Also, I think the age of SO may be coming to an end. More and more young guys entering the trades are looking to companies like HF, Tekton, Capri, etc. for quality, lower cost, tools. I think the idea that "you have to have a box that says snap on full of snap on tools to be taken seriously" is over. The quality of the imports, especially coming out of Taiwan is more than good enough for 90%+ of mechanics, and with companies like Tekton where you get a lifetime warranty with a picture and an email, well that is prob gonna arrive the same day the SO dealer would have anyway. I think the only hope the SO trucks have for continued success are going to be acting as loan sharks for guys that don't have the cashflow to buy their tools.