I really think that professional software engineers are trolling "normal people" with stuff like this. Oh, you want to be a programmer? Jump through these 8 million flaming hoops suspended over man-eating sharks, and you'll see just how hard it is to make an LED blink. After failing, you will dedicate a new national holiday to our sacrifices; we do this for a living and you should be grateful that literal human garbage like you are even allowed to THINK about monitoring the water level of your potted plants. But behind the scenes, we don't do this for a living. When we press TAB, our IDE knows exactly which level to indent the text too. When we want to reflash our microcontroller, it does a diff of the last binary we pushed and updates only the 3 flash cells that actually changed and updates it in microseconds. When we want the documentation for some library function, it pops up in a web browser hovering above our cursor. Our life is nothing like this. We just use our skills to give you tools to make you think programming sucks.
It's all a scam.
It's like the legal system where emails are converted to fax when sent and then back to email when received.
That said, I think Mbed should have eaten Arduino's lunch but they kept making loads of different terrible build systems, and there are still a load of old boards available that need firmware updates to work properly. I have a couple of K22F's that have been bricked just by plugging them into a Windows machine. Never happened with Arduino.
So yeah, Arduino have sat still at the "it's rubbish but it works pretty reliably" stage while Mbed has failed to get beyond "it's great... when it works".
Not every tool is for everyone, and that's fine :)