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Why did Fender fail to capture the 5 String market?

I bought a Guild Pilot five in 1987. It was the five I bonded with and a truly great bass. I look back, and honestly don’t have a good reason for letting it go. It was pretty light, it had a great neck and comfortable string spacing. It also got very nice Jazz Bass tone even though it did look like it was made for a Hair Metal band.
Evidently this guy liked the four-string fretless version:
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--Thread hijack alert ---
Hey Fender 5 string experts : I'm thinking of getting a fretted 5 string for drummer less use with acoustic guitars.
I like small - 9-12 " radius fretboards and haven't yet had a Fender or Squier. Is there a reason I really don't want a Squier compared to a Fender Player ?
I'm 95% DB with a bow, 5% Cort 5 string fretless as it is, so fairly low budget is because it won't be a primary instrument and one fretted bass will be enough.
And moderator, please move if you see fit.
 
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