Bad products disappear and this one remains. Something that I learn while study CFA curriculum, is that we need to evaluate products in terms of value.
At the same time, it is necessary to understand how the product works and the underlying behind valuations. In the first floor of a financial institution we have people that implements Markowitz view of capital selection and hedge their risk, using options (Black Scholes) or futures instruments. However, both methodologies differ significantly: one assume risk neutrality (zero sharpe ratio) and the other one believes in efficient capital allocation (non zero sharpe ratio).
An story:
A professor enters in a room for the first time and ask to students to determinate the price of a pencil. Students start to answer immediately: $2, $2.3, $2.5, $1.8, etc. Suddenly, one student say: " the best way is to determinate the distribution of prices and estimate the mean, using the central limit theorem."
Professor then replies: the pencil is used and does not work. At the end the professor understand that he was talking to Quants.

Let´s use quantitative knowledge to trade on value.