I do not think they should be afraid of Analogue. It’s not like they release a new machine in 2 weeks. Also, they much prefer to sell 1 machine per console rather than an all-in-one machine.
Regardless of what they have, as a consumer, the SuperSega looks like a vaporware. It’s a very ambitious project and we have almost nothing that confirms they are able to build such machine.
Analogue is also very bad when communicating, but they have a good-enough track record (at least hardware-wise, software is usually bare-bones at launch).
For me it’s Taiko no Tatsujin 😅. I will never stop the subscription 🤣.