I'm personally a fan of the conspiracy theory that because multiple ANC products have had their abilities reduced in firmware updates over the past couple years, research teams have been independently finding out that user's hearing are being damaged by highly effective ANC and have had to turn them down without admitting fault. Although I'm not even sure if that's how sound waves work, and recently there was Bose's…
The other option is that Bose, Sony or some other high-end audio company has a patent on whatever noise cancellation system was in place originally. A decision was made to avoid a legal battle (or a deal fell through at the last minute) and the feature was nerfed until Apple can strong arm the patent holder into a better deal.
The patents violated expire in 2021 so it is likely they are holding out.