The intense competition among well-capitalized companies will not come again. There is competition among artisans, but not so much on an industrial scale. There are unlikely to be teams of competing engineers testing different airway technologies for a drier smoke.
The same thing has happened with fountain pens: there is competition between small artisans, but no one will make a snorkel pen again, which requires an industrial scale.
So we get different shapes and finishes, and some modern materials like polyester. There’s money in the beauty of pipes in this smaller, partly collector market. But there’s no money in technological innovation in pipes.