I wouldn't say nobody has bested them.
The real professional Arduino is the Mbed, run by ARM.
It's for professionals, by professionals, and it shows in good quality.
But, you pay for the abstraction - it's inefficient with hardware resources.
Another alternative is modm.io.
It's a modern take on the hardware abstraction layer, claimed to be very efficient.
It may just be that with it's combination of high efficiency and portability, you would get the cheapest mcu for your project.
I'm not sure the mbed is intended for products with a deep focus on price.
So less hardware selection might fit.
But modm.io does have support for some low end devices.
Source? I'm looking for that right now and can't find any cheap microcontrollers that include an ethernet jack. The price I find make a Raspberry Pi a viable solution... which is quite sad.
At small volume with assured availability right now you can plug together off the shelf microcontrollers and ethernet modules for $3-5 per node. That's 5% of the Portenta price.
What Arduino originally did right was USB flashing + cross platform IDE + library management + examples + media noise. The fact nobody else has bested them is a sad comment on industry.