> Apple used to be good at cannibalizing its own product lines.

Arguably only iPhone from iPod.

Lisa to Mac wasn't an organization being "good" so much as corporate infighting ("after Steve Jobs was forced out of the Lisa project by Apple's board of directors, he appropriated the Macintosh project from Jef Raskin") [0].

Low End Mac's "Road Apple" features [1] list out many Apple products that were hobbled in one way or another to prevent a "consumer" product from cannibalizing higher margin "pro" products.

After 2012 Apple's pro desktops did encourage cannibalization by being rarely updated corporate vanity/art projects, which like Lisa to Mac isn't an example of being "good" at managing product transitions.

A more daring Apple would have freed the Watch from the iPhone in the same way they freed the iPhone from iTunes sync.

0. https://en.wikipedia.org/wiki/Apple_Lisa

1. https://lowendmac.com/2014/road-apples-second-class-macs/