Features versus cost control

I thought I would start a conversation about something I have been thinking about in relation to SWF's strategy.

The recent features they have been adding, whilst certainly asked for, don't seem to be moving the bar from an adoption or trade volume point of view.

THE GOOD:
Adding US stocks was a must in order to fend off competition, but many of the other "features" don't seem to justify the investment.
Adding real time pricing to the portfolio page was a great feature for people leaving Commsec (still their biggest target market).


THE BAD:
The ETF was a bust.
HK trading just doesn't seem like something that would ever pay for itself.
Crypto (at least to crypto sceptics like myself) feels like something you could pour endless money into and never see a return.


If they were to concentrate their efforts on making the platform the best option when moving away from the big banks / brokers I am not sure that some of these proposed features can be justified.

SWF has a poor record of delivering quickly and that makes every feature an expensive undertaking.

Here is what I would propose. They narrow their focus to features that truly resonate with the target demographic. Their target will never be the floor sweeping, race to the bottom brokers. You can't convince an 18-year-old looking to blow the money his Granny gave him for his birthday on the latest meme stock that $10 is better than $3 but you can make the argument to the $10k plus portfolio crowd based on features, simplicity, security and longevity.

I would also like to see cost control introduced, a more focused approach would require less headcount. The recent marketing spend would not have generated a return due to poor timing. Their tech team hasn't covered themselves in glory and the many design updates have been "meh" at best.

I would like to see them continue to commoditize the broking space though being the most trust worthy, reputable, reliable but still simple and beautifully designed broker.

How do other people feel? Would you be prepared to see the proposed feature list cut back in return for a healthier balance sheet?

Do you think spending up big now to grab new entrants to share trading is worth the money, considering the economic environment?

Do you think focusing on people migrating away from Commsec and the like (think SMSF users for example) is the way to go?