Bluetooth is a thing because the big players backed it in the late 90s. It's hard to say what it would look like now if profiles were at a different abstraction level in the spec. I see WiFi as a counterexample - the protocol doesn't make assumptions about your application and it seems to be successful enough.

Agreed that lack of profiles and proprietary nonsense is a problem, but at least in my experience, it is much worse to deal with bugs baked into various implementations. In the past, getting maximum throughput (or minimum latency) between different devices required all kinds of nasty hacks. An escape hatch to the L2CAP connection would have been a lifesaver, or even better, if profiles were implemented outside the HCI layer. An OS update shouldn't be necessary to fix a bug in the heart rate profile.