I work in a consultancy role which is an off shoot of marketing. I work with marketeers all the time.
There are many very smart people in marketing, but a very notable characteristic in the industry is the desire for the new and the shiny. This can actually hamper good marketing in a much broader sense than this example, but I won't get into that now.
In this case, the marketing team will have been excited by this direction, probably strongly championed by younger members of the team. They will have sold it in and it may be that some key people across the business like the so called 'progressive' angle. They'll also be excited about a new consumer base.
The impact on the core consumer base may be investigated, but probably in a very superficial way. The echo chambers of the team will mean they don't take this seriously, or don't actually probe for insight. Finance will ask questions, but they will easily be batted back.
So I see exactly how this happened. Other companies have shown us how it might end.