This is actually quite common in the hardware space. A hardware project can take a couple years, meanwhile the existing product has to be sustained. Also, a lot of stuff in a hardware product can become a total loss due to component obsolescence or the need to cram new / different features into a physical footprint. Even if it was a great design.

As others have pointed out, just like in software, we have to be cognizant of the career risk of hitching one's wagon to the product that's going out the door.