They should've, though. Most people rolled their eyes upon the announcement of a new figure so similar to the previous one. Tried as they might've, they still didn't one-up EB's attempt and it was a poor business decision since they knew we wanted a BD T-800 and we'd have been putty in their hands if they announced that instead.
Maybe they thought announcing a Cyberdyne Showdown was financially solid since they could then save the real moneymaker for later, but in terms of what went on that day (which is what HT was basing their decisions on)... Enterbay won.
I think it came down to direct comparison, a BD figure could be compared to EB but the difference would make it inbalanced, having 2 clean figures with the same clothes and all allowed for direct comparison, and HT even highlighted areas where people said EB got things more right than HT had the first time around.
Given the time and drastic difference ins production materials, there's not as much room for comparison between HT's Rambo 3 and this one, but there are definirely areas where people can and will say EB did a better job. Body comparison isn't really fair as the old muscle body HT used was cutting edge at the time, done today, HT's body would be very similar. Paint apps can be compared, HT's butcher job of the scar patterns can be raised, detail can certainly be discussed. Overall though, an area where the EB T-800 really outdid HT is not much of an issue with either Rambo; the overall proportions about equal on each figure, HT's Rambo wasn't overbulked, maybe a hair too tall, that's about it. They're both pretty close to right for his Rambo 3 physique, as even EB might be a bit less muscular looking than that particular film, though still definitely Sly's body.