Sycraft
That is why Studio One and Cubase are both good ones to look at, I think, because they exist not just as a product on their own, but a product to sell other products as well. Both are owned by hardware companies (Yamaha owns Steinberg for those that didn't know) and are tightly integrated with products those companies sell, making them a valuable product even if it isn't profitable in and of itself.
It becomes a question of innovation versus stability. There are hobbyists who really enjoy an experimental environment. There is nothing wrong with that, and a few of these marginal DAWs will continue to exist to serve that segment. But they will come and go because they will be thinly capitalized.
People who depend on a DAW for a living, or at least as a tool to support serious music production (as opposed to hobby experimentation) will be best served by the products with more capital and market share behind them.
I wonder about StudioOne. Presonus is a good company, but I don't know that their business is strong and diverse enough to support StudioOne and Notion. I wouldn't be surprised to see StudioOne continue to be a level below Cubase functionally even 5 years from now.
Both Presonus and Yamaha/Steinberg are investing in the convergence of various musical cultures. This is something I long advocated for SONAR, but this did not resonate much with the SONAR user base. That is ironic because the DAW itself is the product of convergence between sequencing and recording. I believe the next convergence is the confluence of DAW and classical notation, which will draw in a potential market of missions of classically trained musicians.
(Please understand I am not saying it will draw in millions of customers. But it will open the door to a segment that includes millions of people today.)
StudioOne / Notion has some rudimentary convergence today, which is a good first step.
Cubase / Dorico has no convergence today, other than the fact that significant parts of Cubase are embedded in Dorico's playback engine.
AFAIK, there is zero convergence today between Protools and Sibelius, and I doubt they will organize for that.
Ableton is built on a difference convergence, which is the DAW and live performance. Most DAWs have some of the elements that can be useful in love performance, but Ableton is the leader here. So if we want to look 5-10 years down the road, I expect the top tier products to support a 4-way convergence: sequencing, recording, classical notation and live performance. That is a lot, and may be more than some musicians want to dig into. But it makes the largest addressable market. Anything short of this will be a niche player, which is OK. I expect Reaper (and some others) can do well in their niches.