There are other parts to the interface debate as well, like zoom factors, dialog complexity, and so forth, although much of it may be a matter of taste. I use it when I'm playing with designs at home. It looks like Letraset didn't know how to promote what it had. It's worth noting that they'yre divesting themselves of their other graphics apps, not just FontStudio. At any rate, the biggest hurdle was that Fontographer had a four-year head start, capturing the hearts of nearly everyone who was serious about making fonts.
Nobody wants to relearn an app, so the competition has to be darned good to get people to switch.
Another problem was that Letraset didn't develop FontStudio, they bought it. Also, and I won't lay the blame solely at the door of Altsys, whenever I get asked to sort out a problem font , it's always been created with Fontographer.