We needed it to be small, low power, low heat, provide hardware level access to a camera module, be ethernet accessible. Oh, and under $100 including a fixed M-mount lens.
At the time, it didn't seem like rolling our own hardware would have been faster.
I would argue - given we succeeded at sub 1ms syncronization - that the Pi was close to the perfect tool.
It just would have been even more perfect if it had an RTC.