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There was nothing wrong with the design of Betamax, it was better than VHS, so this comment makes no sense.
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Yes it does! As mikeaitch alluded to, I was simply referring to the fact that whenever two or more different versions of the same basic idea are offered to the public, everybody loses out. The classic example was Betamax versus VHS, but since then we've had the farce of different digital recording techniques competing against each other, SACD versus DVD-A, etc, etc, etc.
Nobody except someone with too much money to waste is going to buy into high definition DVD until there is only one version out there.