Here's my guess. I've owned both a PF350 and an old school Trace. While the Ampeg has more of a smooth sound that most people would still like today, the trace sound is well....its a trace sound, and I'm not sure modern players are into that anymore (I still love the sound of them BTW), so I'm guessing TE (or whoever owns them now, Peavey?) figured they'd sell more Elfs if they weren't so "Tracey"