Yes. Although we have had Gore-Tex for 40 or 50 years, the waterproof-breathable dream has yet to be fully achieved. Montbell Versalite is an excellent example of the tradeoffs between waterproofness and breathability. The Torrent Flier uses Paclite, which is substantially less breathable than Infinium.
Side Note: I see that the Torrent Flier is on closeout, and the Peak Dry Shell is gone from Montbell’s USA site (still on the Japanese site). I wonder if that means we can expect new garments from Montbell soon?
People like their Versalites. The reason that I have never bought one is that, like most WPBs (including Gore-Tex Pro), it requires DWR for breathability, which is unreliable in practice.
It has been suggested that permanent DWR would reduce the need for a WPB membrane. Attempts to do that (EPIC and Empel) have, so far, been unsuccessful in that goal without compromising breathability. I’m not a fabric expert, but the examples of both that Stephen Seeber has tested were unremarkable in MVTR and CFM. My military-surplus PCU L4 is more rain resistant than other wind shells I have tried, but it isn’t waterproof, and my other wind shells breathe better.
So, yes, the market is in turmoil. To be fair, it has been in turmoil as long as Gore has existed. Before Gore we used 60-40 parkas for wind and light rain, and fully waterproof gear for heavy rain. Nobody expected to stay dry in the rain. Some of us still don’t.
If I wanted a reliably-waterproof jacket with the highest breathability currently available in all sizes, the Columbia Outdry Extreme Mesh appears to be the only remaining choice. However, it is not as breathable as a wind shell, nor as well ventilated as a poncho or umbrella. Tradeoffs.