No, it's worse than that - they chose to target geeks, then decided to throw out the geeks in an attempt to target a more mainstream audience[0] and then failed to actually get the mainstream userbase, leaving them with neither the nerds nor the normies.

[0] Firefox has always been at its strongest as a power-user's browser, chock-full of extensions and tweaks. Mozilla met this advantage with... two extinction events for extensions, and removal of customization options.