Leupold hasn’t been at the top in most circles for many years already.
Hunters and sportsmen of the last generation use them, because their legacy name remains to carry, but most Millennials and certainly the Gen Z kids have been willing to try other things and most importantly, compare specifications, features, and quality for their dollar. The novelty of a “no questions asked” lifetime transferable warranty is long over - many makers have been offering such for many years by now. The infamous “best low light brightness” of Leupold has been independently disproven many years ago. They rested on their reputation for too long, offering too many models with out dated reticles, mixed reticle and adjustment units, and lacking features for their price point.
In the past, it was true to say you could pay a little more for Leupold, and it would be worth it. Even 10 years ago, it was no longer true, and frankly, at that time, you could pay LESS and get a better scope than Leupold. They’ve made some updates and replacements, and it’s certainly true to say the Leupold scopes made today are better than any of the past, respectively, but they’re not leading the pack by any stretch, and certainly not leading any innovation.