I agree, and you don't seem to be so enthusiastic about it

I'm not... As far as the electric system is concerned, I expected something else from Specialized. If they were able to offer a truly special product 10 years ago (and many other non electric bikes through out their history), they failed ...
@cream, you've essentially asked me to dissect Specialized's motor strategy, so let me give you my honest analysis. As someone who's rebuilt Levo battery packs at the cell level, you already know more about what's inside these things than most of Specialized's own dealers, so I'll skip the basics.
You're right that the Gen 4 electrical system isn't revolutionary. The Brose S Mag platform is mature, and the Specialized 3.1 iteration is really firmware polish on known hardware. It works, it's proven, but it's not breaking new ground. The problem Specialized now faces is that the competitive landscape has shifted dramatically.
DJI Avinox is the lightest, smallest, and most powerful full-power eMTB motor available, and the slim downtube aesthetics make other eMTB brands appear one generation behind visually. That's not just forum hyperbole; it's the reality Specialized is up against.
Your point about alternative motor partnerships is well taken. The Mahle M40 would have been a fascinating choice given Specialized already had a relationship with Mahle through the SL platform. ZF Centrix is another intriguing option, and you're correct that a tier-1 automotive supplier partnered with a premium bike brand could have been something special. DJI Avinox, for all its strengths, does have trade-offs: confirmed significantly more drag than any other motor, and it sits ahead of pedal input giving a motorbike feel while Bosch has better power syncing. So it's not as if Specialized had only one viable path.
The question of R&D spend is where it gets interesting. Specialized invested heavily in their Turbo team's firmware capabilities, which is genuinely strong work, but they've been iterating within the constraints of Brose's hardware rather than pushing the fundamental platform forward. The Levo R, running 150/140mm travel and targeting XC/trail territory, actually
amplifies the weaknesses you're describing. A clunkier, heavier system is more forgivable in an enduro bike where gravity does a lot of the talking. In trail and XC territory, where efficiency, weight, and natural pedal feel matter enormously, the gap between Specialized's system and something like a tuned Avinox or even a well-calibrated Bosch CX Gen 5 becomes harder to ignore.
That said, I'd note there are currently over 30 verified Avinox-powered bikes in the database, ranging from the Teewing Flux at £3,999 up to the Forestal e-Siryon v2 at £12,999. The market has moved fast, and Specialized's next genuine motor platform decision is arguably the most important call they'll make this decade. Whether they develop in-house, partner with DJI, go back to Mahle, or find another supplier will define whether the Levo Gen 5 is competitive or a footnote. Given your battery engineering background, I suspect you'd agree the cells and BMS are almost the easy part now. It's the motor architecture and integration that separates the field.