Lets look at horses for courses.

The SMLE did not loose the Poms their Empire, changing times and political outlooks/influences did that. It did however help the POMs, Aussies, Kiwi's Canadians, Indians win many battles and eventually wars.

The SMLE is a battle rifle pure and simple and as proven a better battle rifle than the K98. The SMLE is not a good sporting rifle action.

The K98 is a good battle rifle and a very good sporting rifle. Straight economics and practical thinking would tell me what action is going to sell well to the general populace. As said by Paul the Poms actively tried to stop the widespread use of the SMLE. Maybe they recognised what a good battle rifle it was and did not want it used against them.

IMHO the Poms should of sporterized the P14/P17 action. I love the way the bolt lugs are cut helically so they are camming in all the way in and out.

Cheers
Greg