They had no choice, the "univeral building blocks" patent ended not long ago, facing competition now, they had to find sustainable cash flow.
The bricks aren't finished properly, some just pop off, and it all falls to bits easily.
I'd say the nearest competition to Lego is probably 60% the quality of Lego.
It's rare to think of a toy that you can play with as "heirloom quality," but I have no doubt my kids will inherit a portion of the family set when it becomes time, and their kids just might too.
Heading 'trademarks and patents', the last patent expired in '89.