I don’t think it’s a coincidence that Steve Jobs stepping aside roughly coincided with a flurry of new product categories.
Maintaining too many product categories was almost Apple’s undoing in the 90s - the first thing Steve did when he came back was simplify down to four main products that they could develop and make work well. Apple are big enough to do more than four lines now of course, but they still shouldn’t do too many.
That should be the Apple way - limited lines of products that are highly developed and work well. Not endless new product categories.
That was when Apple was relatively TINY, so that worked- and even made sense- in that context. That same genius had to borrow relatively small money from Microsoft just to keep Apple's doors open. When you are small, you don't have the money to expand product lines in pursuit of greater riches. You
HAVE to focus on few products and try to make the most of them.
There are NO Trillion dollar companies with hardly any product offerings, comparable to the 2000s Apple product mix. Even the biggest of "big oil" has a surprisingly large number of product & service offerings.
When we wish for "trim the fat" part 2, we are wishing for significantly smaller Apple Inc... where that actually works. While each person may have a favorite among 4-5 iPhones and 10 or 20 iPads, Apple doesn't make ANY of the others to lose money on them. All those others are somebody else's favorites.
For (extreme) example, I own no iPhone at all, using a cellular iPad Mini with VOIP app and buds to also cover my mobile phone needs. From my prospective, iPhone is a useless line that should be purged, as are all iPads NOT Mini. But I bet few would make that same argument. Whatever you have in your pocket is only the best one for SOME other owners of the same. Others own and love the one you like least. Purge the lines down as Jobs once HAD to do, and chunks of profitable buyers would have to unify around as little as 1 of 4-5 iPhones, 1 of 10 or 20 iPads, etc or they might take their money elsewhere... driving Apple's revenue back down to how it was when they had (to have) few products to sell.