Sorry - I forgot paizo can do no wrong.
Didn't the ever increasing price of DDM doom the line as well? Oh but that's different. Right. Carry on!
No, what doomed the line was a market that was glutted with too much product in 2005/06 that was never cleared from retail and wholesale inventories. Then the reference art was changed on the move to 4E, and the market was further split.
If you are not interested in the Pathfinder Pre-Painted Mini line, I assume you will not buy them. Last I checked though, there were a lot of Pathfinder players who ARE interested.
The Pathfinder Iconics are intended to be miniatures aimed at Pathfinder fans and those who may purchase the Beginner Box. These products aren't aimed at D&D players.
The iconics are familiar to a lot of players of Pathfinder as they appear time and time again across 100+ print products and nearly as many electronic products. These aren't intended to be just another fighter mini. If that's all they were, you might have a point.
Paizo spent a lot of money over the past five years developing the character art and tying their brand to them in every AP, Companion, Chronicle, and PFS scenario as well as the stand-alone modules and Core Rulebooks. Accordingly, there is a significant amount of interest among Pathfinder fans for minis which match that reference art.
For example, every PFS GM will want these minis because they match the reference art of the default pre-gen characters in PFS play.
You are either interested in the Iconic Minis product because of the reference art -- or you aren't. Clearly, you aren't interested. But I think your scorn emerges because you are treating them as "generic minis" without understanding the underlying reason for the strong appeal of the minis to Pathfinder fans.