$0.25 is very, very high.
I don't know who was supposed to pay the $0.25, but gizmos like external hard drives is a commodity market with razor thin gross margins.
Whoever decided that $0.25 was reasonable for that kind of market (Apple?) essentially killed the protocol right there.
Edit: here's the story: https://arstechnica.com/gadgets/2017/06/the-rise-and-fall-of...
Steve Jobs changed royalty model from a flat licensing fee to a $1 fee per port (insane!), Intel walked away and cancelled all FireWire development, Jobs lowered it then to $0.25 but Intel didn't come back.