Let this be a lesson to everyone: Blind boxed minis are a failure. Never try it. Prepainted Plastic? Fine. Just for the love of all that is polymer don't make them random blindboxes!
Say what you like about whether you like randomized miniatures (and many people have said many uncomplimentary things), the random reward structure of collectible cards and miniatures sells product. (The strategy hits the same reward triggers that slot machines hit.)
WotC sold huge numbers of boxes of random figures and many fewer boxes with partially random figures. And Reaper hasn't sold anything like those numbers* of unrandomized figures, even though their sculpts and paint jobs are orders of magnitude better.
* Speculation; I don't have access to either company's sales figures. But I'd put fairly serious money on a bet that I'm right.
I think it's an apples and oranges. While yes, the compulsive, collectible, aspect may encourage sales initially, it's an unsustainable model with miniatures. Especially miniatures that tie into a game.
Miniatures are not trading cards.
Totally agree with Nanite. From what I could tell over the past decade, Magic remained strong while DDM went through stages of okay sales, but mainly remained sluggish overall.
It's easy to put down a few bucks for a pack of booster cards for the cheap thrill of hoping to get something good. I, myself, was addicted to that way back in the day, and it's a habit kids can afford to have.
$12 or $14 boxes of random minis is an entirely different animal, and gets real boring, real fast. It's simply unsustainable. The kids can't afford it for long, and the adults (like myself) are eventually going to put their foot down after getting even the same crappy Rares over and over, and refuse to buy anymore (which I did).
Every time I went into my FLGS, talk was about how long WoTC could sustain it, given that it was not a big seller. When the news came down the pipe months ago, that Wizards was going to be ditching it, there was a sigh of relief from their management. No more having to discount them 20% just to get them moving.
Now all of that is from the on-the-ground, retail side. I personally have a feeling that what really sustained the line for this long, was the fact that stores and traders were outright buying up boxes to empty, to sell the rares on the secondary market. eBay seems to have been the biggest market for DDM, with storefronts selling individual minis. You always heard stories of guys buying crates of DDM just to get the rares and toss the other stuff out. That means that Wizards is selling a lot at cost initially, but it also means the market was cannibalizing itself. That can't be sustainable for long.