Yes, the time and cost of reproduction per unit assured the LP's market domination. And although unlimited money can be spent on a turntable to extract that last Nth of music and detail, the entry point for a reel-to-reel tape machine was always higher, and the mechanical complexity is much higher.
The reason for the 14" transcription LPs and 12" tonearms to play them came from a time when live radio programs and performances were recorded, mastered, and stamped to send out to radio stations all over the country. A radio station could easily stamp 100 or more transcription LPs and send them out overnight, where 100 tape duplications would have taken 4500 minutes, or 75 hours.
The reason for the 14" transcription LPs and 12" tonearms to play them came from a time when live radio programs and performances were recorded, mastered, and stamped to send out to radio stations all over the country. A radio station could easily stamp 100 or more transcription LPs and send them out overnight, where 100 tape duplications would have taken 4500 minutes, or 75 hours.