It doesn't sound like they wasted any time due to incompetence to me, it sounds like they took a few years to do something that realistically takes a few years.
I don't think that's accurate. Mature product development companies regularly turn out products of this complexity, or much higher, in 12 months or less.
Two guys aren't a "mature product development company." Also, it's pretty common for a big company to take a few years to develop a new product and produce it at scale.
