Yeah, I think the price is a big part of it. Plus, the Cyclo LOOKS less user-friendly to a lot of people, even though it's quite the opposite (IMO, of course). Another factor is/should be that while you CAN get by with only the PC, it's harder to get by with JUST the Cyclo due to the "reaching tight spots" issue. That was why I finally bought a PC after happily using the Cyclo for years. Also, the variable speed issue is a big deal (bigger than it should be? maybe..) to some people and there's a MUCH better selection of pads for the PC. The "regular" green Cyclo polishing pad is more aggressive than the "regular" polishing pads for the PC and the Cyclo's (white) finishing pad is more aggressive than some of the PC finishing pads (now) available.
BTW, a word of warning on the Cyclo pads: the polishing and ESPECIALLY the finishing pads are ALWAYS contaminated with little specs of nylon from the velcro backing. Although both Terry at CMA and Irene at TOL told me not to worry about them, *I* always pick them off before using the pads and/or use new pads on a less-important vehicle first. Can't say that I've ever had a problem, but it IS something to be aware of.
What I'd REALLY like to do is have someone take a Cyclo to some get-together like the upcoming one in St. Louis so that a number of people could directly compare the two machines. Personal preference is just SO "iffy" and subjective that I keep thinking that MAYBE the Cyclo is still just for people who a) already have one available or b) have the $ to spend and already have a PC. The last thing I want to do is get someone to over-extend money-wise and then hate the thing and wish they'd gone with the tried-and-true PC instead.