I have to admit I have a fair bit of history with Rapha as a customer. I was one of the first to buy from them, back when they only had five items and you could literally phone their office up and place an order (they always used to try and get me to order on line but I only had dial up and downloading their web page took ages 😂).
The quality of their stuff in the early years really was very good, it was still a premium price then but worth it. I guess you have to accept they have morphed into a cycling/lifestyle brand with a certain customer base. If you know how to sift through the large and unwieldy range, they do still make a lot of good products, they also make some pretty average ones too.
It will be interesting to see how they fair over the coming years, large losses each year, but more worryingly is a decline in sales. The ending of the EF relationship and sponsoring USA for the next Olympics might be a masterstroke, they're obviously banking on a lift similar to London 2012 and its impact on British cycling.