In fairness, the market size isn't in question. It's whether you can reasonably capture venture-scale share in an already-mature market. They need to see some kind of unlock. In the case of SCS and Nox, it's a new business model, enabled by customized SW, and aided by a generational shift in buying behavior, and an ongoing wave of legacy retirements that are creating a capacity vacuum. Those factors convince investors that perhaps now, finally, manufacturing demand can be aggregated and the supply chain reshaped pretty fundamentally. That thesis is backed by their rapid growth, and the rapid growth of competitors in the same and adjacent markets. Electronics grew up with tech (for obvious reasons), so it's less obvious that something dramatic can happen to reshape the supply chain. If you are just another competitor in an already-consolidated, tech-driven marketplace, what's the venture bet?