Firefox (mostly) caught up with quantum and process isolation on the desktop, but by then I think it was too late. And the android version still has horrible performance, stability, and compatibility compared to Chromium browsers.
Mozilla just doesn't have the same engineering resources to poor into the browser that google does, so I'm not sure there's any way they can really maintain pace with google outside of becoming yet another chromium browser.
On the other hand, things like performance improved drastically, and it is now competitive with Chrome. Firefox the product is in the best shape it ever was.
But while Chrome was growing, the ad campaign was crazy. You could not miss it - Google results, Gmail header, every Adsense anywhere. Everyone was told to install Chrome when they used internet, every day - there was no escape.
The primary value in Firefox existing right now is that the web standards process becomes dysfunctional when there are only two major browser rendering engines, but that is fading away with Firefox’s market share. Hopefully Ladybird can gain enough momentum to matter there because it doesn’t seem like Gecko can maintain its relevance.