Do you happen to know a fruity HW company that today runs it's own proprietary graphics API when the open Vulkan or OpenGL exist? /s
All jokes aside, back then it made sense why every 3D HW company was baking their own API. It wasn't just for gatekeeping/rent seeking, but the consumer 3D graphics acceleration business was brand new, there was no standardization, so nobody knew where the future was heading, so they wanted to have full control over it as they built it. Plus, they were shipping hardware before Microsoft had come up with DirectX so they needed some API until then, and I assume they were afraid to touch OpenGL, the API of their biggest competitor.