This is actually the textbook example of "disruption" as described in The Innovator's Solution. The generally accepted definition of disruption is capturing a market from an incumbent by introducing a product that meets most of a customer's needs at a much lower price and/or higher availability.

The beauty is that the big players are structurally unable to compete, because they have baked in a high cost structure and are dedicated to serving ever-higher customer needs (think five blades).