Segway didn't refine its product. It was too big, too heavy, overengineered (and horribly expensive as a result), and difficult to use, but they never really improved on it. Was also 15 years too early, and they didn't think to try and make their product into a toy, instead focusing on businesses like warehouses and tourist guides for some idiotic reason. But their underlying tech was solid (with a killer patent portfolio), and it's why their current owners, Ninebot, dominate micromobility. The truly stupid thing is that Segway could easily have been the dominant company, but the hedgies who were running the company in 2015 spent too much energy on patent suits instead of innovating and making partnerships, and the company got bought up by Ninebot, who was one of the companies they tried to sue.
