Yep. If you start looking at it from the point of view of who benefits and who makes the standards, it makes a lot more sense.
The physical connector is terrible and ends up being the first thing to break on a lot of electronics. The labelling is confusing and no one knows what to buy, so you always end up buying more than you need. Motherboard manufacturers were happy to re-label their marketing materials on old boards to say USB 3.1 so they could sell them to unsuspecting consumers that were tricked into thinking 3.1 > 3.0. It goes on and on.
Look at the big picture and it starts to feel like the goal is to create a bad design because it means the manufacturers can sell us more junk.