The speed is for bokeh and night photography.
What I would like is Canon to make 1.4 primes with weather sealing, USM and a good balanced size for R5 with weight around 500-600g. So bringing a few on a trip wouldn't be ridiculously heavy.
So fast/small/light/sealed and cheap... right?
I don't own a lens faster than f2.8 lens but I don't have any issues with night photography. I use a tripod and long exposures or fill flash and/or high ISO. If I want the background blurred then I increase the distance between subject and background or take 2 shots in/out of focus and blend. What is your use case?
The Sony 35/1.4 was only released last year ie 9 years after Sony started releasing their own E mount full frame lenses.
There are a number of EF35mm lenses available including the Canon EF35/2, RF35/1.8, Sigma 35/1.4 Art, Yongnuo 35/2, Tamron 35/1.4 or even the Sigma 18-35/1.8 Art.
I am sure that Canon has been pushing for faster releases of new lenses but covid and supply chain issues have impacted everyone. Note that there is no E mount equivalent to the RF16mm/2.8 for instance.
If they don't want to make such lenses, they should let others do so by leasing their patents. Canon gets money from that too, and there would be more options and healthy competition for us.
Canon have a monopoly on their R mount for their RF lenses/protocols. They are getting a return on that investment now as it has been only 4 years since release. I have no idea about how much Canon would charge for access to the RF protocols but it would make sense to be significant amount. I fail to see how getting more competition for Canon will improve their shareholder's value.
Sony had no choice but to open their E mount to 3rd parties from the beginning and adapted EF lenses was their gateway into the full frame MILC market. They gambled (and to an extent won) for their bodies to have a reasonable market share in full frame.
Sony has to live with their decision and compete directly with the 3rd parties and their pricing (and probably margins) reflect that.
What we can't see is how much money Sony invested in their camera business unit and how profitable it is. They clearly have leading technology for their sensors which would give some internal advantage.
At the end of the day, everyone votes with their dollars and if enough people switch to Sony vs switching to Canon then perhaps Canon will change their direction.