The IPO killed 'em
GoPro is no longer focused on making a quality high end pro piece of kit, as their drone POS shows. Instead they're trying to dance around to the tune that Wall Street is playing, and not understanding that's just not possible.
convince people to replace their older perfectly good one
Well, they've been doing that, by introducing new cameras that are significantly better, with useful new features. Granted, this isn't something they can do forever, but they're sort of the "Apple" of action camera makers, and they need to keep their reputation.
However, now they're doing things like "OK WE MADE A DRONE NOW LIKE YOU SAID YOU WANTED, WALL STREET! ARE YOU HAPPY NOW?" and that drone is getting YouTube reviews with people saying "I hate to say this, but this is the worst drone I've ever encountered"
They need to realize that no, the stock analysts will NEVER be happy and anyone trying to do so is doomed to failure. They need to get back to making good, if expensive, stuff that people want.