That is probably true but part of the problem is that, as I recall from years of Intel Developer Forums, Bluetooth was originally focused on mobile headsets and there were a bunch of other wireless technologies floating around for other purposes.

However, for whatever historical reasons, Bluetooth through a number of iterations pretty much ended up gobbling up all the non-WiFi wireless use cases (other than cellular and NFC of course). And it arguably wasn't really suited for a lot of them.