I think Yeti makes some very high quality products and own a few of them but I also own an Rtic soft-sided cooler that I think is fantastic. I got the Softpak 40 and it's half the price of the Yeti Hopper 20 and based on comparison between my Rtic and a buddy's Hopper I don't see double the performance.
That being said, I'll still buy and own Yeti products and do appreciate that the company is very generous in their support of numerous conservation causes and that's a large reason why I'll purchase their products.
However, I recognize huge numbers of potential customers out there will not buy Yeti when there are products like Rtic that are less than half the cost and perform equal to the Yeti. I'm even starting to see Rtic stickers on vehicles. So I have to wonder what the end game is for Yeti and particularly the PE firm that's taking them public and looking for a $5B IPO, which IIRC is something like a 32 multiple of EBITA.
Other than lawsuits forcing Rtic to use different marketing, is there really enough IP in Yeti to shut down Rtic? Personally, I don't think so. There's not a single technical aspect of anything Yeti makes that hasn't already been done by somebody else that I can find.