I think most people have kind of said everything I'm going to say... always late
I think that cameras are so much more capable than most people need. I have a K-3 and K-1 (after giving away K-5 prior), and I feel like I have barely touched the surface of what either can do. It would be wrong of me to say that they don't have flaws (ex: K-1 is a perfect camera IMO, except for the sometimes painful RAW buffer and fps!; using my K-3 makes me long for the higher resolution/dynamic range/noise capabilities of my K-1; Got a Pana G85 specifically for video), but there is something nice about the process that it takes to make my vision a reality. I've used Canon/Nikon/Sony/Panasonic, and feel like there's less 'photography' involved. As counter as this may seem to the above, Pentax has made me be more patient and be more purposeful with how/when I use my camera or change my settings. There's something nice about taking a photo and knowing that its because I set that shot up all by myself, and encourages me to improve my skills/technique for the times when the same moments continue to come up. When I've used other company's (high-end) cameras, I feel like I get to take the short-cut a lot more, and forfeit my own personal skill(s).
There's also something nice about supporting a company that I think just gets things right! I like what Pentax stands for... dual scroll-wheels, IBIS, class leading weather-sealing, green button!!!, K-mount compatibility (you mean the lens that fits on my K-1 can also work on my k1000? = blows kids minds), Pixel shift, AA-simulator (what is this sorcery??), durability (look the other way at k-30/50); are all standard on even their entry-level offerings (still remember when I decided to give up film and get my first digital camera, and I saw a military guy poor sand and drench his camera in water... probably never do that, but that's what build quality means). I was talking with my brother's wife when she was thinking about getting getting a Nikon 5600 kit that she thought was affordable (for $600). Look at the Nikon 5600/Canon t7i/etc and (like I told her), one scroll wheel, no weather-sealing, no IBIS would be a HARD pass. She would end up getting a KP for $625: Dual scroll wheel, IBIS, weather-sealing, green button, Pixel-shift, noise capabilities that IMO beat my K-1, that cool grey focus-peaking thing that makes me jealous (why is this not on my K-1 through firmware update?.. I know, I rarely ever use this :sigh
, all packed into a size smaller than most mirrorless. I like a company who doesn't seem to put a camera out for cameras sake... and strongly think that when people criticize Pentax, they mean when comparing all of the flagships. You have to get up to the 80D/7500 ($800) to even rival what you find in a K-3 ($350-400). It's true that the K-1ii is the first camera where I shook my head.
I talk to my students about photographer and cameras, and it is true that it takes a certain type of person to own a Pentax camera. I tell them that you have to be okay with the waiting game! Other companies will come out with camera after camera: ### AF points, edge to edge, joystick, silent shooting, FPS until your battery dies or you die, 4k/8k, 60p/120p, 6k photo mode, 50/100MP, 8-bit/10-bit, my battery grip allows me to _____... and the list goes on... or that new 3rd-party lens comes out for everyone but you. Meanwhile you're sitting there with the same camera from 4-5 years ago with zero indication that anything is happening or the flash/lens you have to buy is from 2012 (that Tamron 70-200 2.8 at %60 discount... but hey).
I do think that Pentax is at a crossroads though. I think the reason the K-1ii was such a dud/non-factor, was because Pentax might be in a bottle-neck where they realize that whatever they release is going to be a small improvement. I respect Pentax because they release cameras for a purpose. I remember thinking that the jump from K-5 to K-3 was significant (16 to 24, 2 card slot, 11 to 27 focus point, AA-simulator, 12800 to 51200 ISO), and then K-1 was basically a 810 with cram-packed features somehow at half the price. I might be wrong?, but we might not have gotten a new camera because there truly isn't anything new. They might also have exhausted anymore new numbers (K-0, K-2?). Like I wrote in that Essay Giveaway awhile back. Pentax is slow, but you can be assured that the camera they give you will last you until the next one (giving you time to appreciate and develop your newest skills), and the wait will be very worth it once something in the numbers finally drops...