They never saw the market. They didn't even know it existed.
Woodman is a surfer—the market was right in front of him. He saw a need, and he solved it with a very simple, high quality device tailored to that specific need.
A better argument there has never been for solving real problems with real solutions, rather than trying to essentially trick people into believing they both have a problem and need a solution. The latter is possible, but the former is a far better path to success.