Once upon a time ...
... and this was of course long before the big splitting of HP into HPE and HP Inc (thus separating the PC and printer business from "real" IT stuff), HP was the world's largest IT vendor. They had everything from end user devices and networking gear over servers and storage to services, consulting and software. At that time, they had the potential to set a new standard that could have dominated the market, just like SNA dominated in the 70's and 80's. This could of course only have happened if that new standard would have provided significant benefits to IT users, such as higher reliability or security - things that are badly needed in today's IT.
However, HP did not have the kind of leadership and enough phantasy to envision such bold ideas. Like everybody else, they prayed to Excel and the existing standards, essentially competing on price - a fight they simply could not win. When simply cutting some fat did not help any more, they started cutting off their arms and legs ...