I think what has really hurt Canon is their failure so far in the mirrorless segment. As others have said, for quite a while they've relied in large part on high quality glass and people's glass investments within the EF ecosystem to drive people to that and retain them within it. It's worked well - they are "good enough" on the sensor side and have also won (or at least not lost) on things which professionals care about quite a lot like reliability.
But mirrorless eroded a lot of that advantage - they were late to the trend, then came with a substandard offering (EOS M series) and then tried to catch up with the EOS R but leveraging existing glass investments to drive adoption is much harder because people see part of the point of mirrorless as moving to a new mount which allows for smaller lenses (at least at shorter focal lengths).
Well, the EOS R and RP are entry level cameras. They have yet to release a professional series mirrorless camera. Comparatively, the 1st gen Sony mirrorless systems were pretty bad. They had tiny bodies that overheated, had poor battery life, and had slow unreliable AF. Ofcource, The EOS R and RP won't be compared to Sony's 1st gen, which is very fair, but I don't think canon has failed in this market.
I'd say they haven't succeeded yet - and the signs aren't great. They needed to produce a knockout offering with the EOS R and RP I think - they were so far behind that unless they did, they would struggle to build market share. I don't know how many more chances the market will give them to get it right, sadly.
I disagree. Given their history and given their capability, I give them an excellent chance to hang on to their current dominant position. They're still producing drool worthy glass.. the RF 28-70 F/2.. the RF 50mm 1.2 is the tits. The new 600 F/4 III is sublime.
But mirrorless eroded a lot of that advantage - they were late to the trend, then came with a substandard offering (EOS M series) and then tried to catch up with the EOS R but leveraging existing glass investments to drive adoption is much harder because people see part of the point of mirrorless as moving to a new mount which allows for smaller lenses (at least at shorter focal lengths).