They liked the outline, the concept, the writing--everything about it--but felt that we'd be entering the market too late. Starting in 2007 a huge number of books on this topic entered the market.
I respect the marketing people tremendously. I know how hard it is to market a book, so if they say this is a problem, it probably is.
Memo to self: spend more time on competitive analysis before writing book proposal, and NEVER send in a proposal without a well written sample chapter. A sample chapter that leaves the reader asking for more. A sample chapter that shows why this book is different than all the others.
I think there's a huge story here, and one that needs to be told. Unfortunately I did not communicate this story clearly.