Yes, companies can lose the exclusive right to their mark if the brand is sufficiently genericized. Just ask Frisbee, (Kawasaki) Jet Ski, ChapStick, Velcro, Lego, Band-Aid, Jacuzzi, the list goes on.
The Huy Fong guy decided not to trademark the term, and consequently in the last few years, everyone is selling a Sriracha sauce, all of which are grossly inferior to the original.
I've tried many of them, being lately in a Huy Fong desert, and esp during their period of production issues.
There are a couple of also-rans, rating maybe 7 stars out of 10. They do not taste like real Sriracha, but they're OK. If they didn't call themselves Sriracha, I might appreciate them more.
I don't think that's any more annoying than "ketchup" or "barbecue" sauce not being trademarked. I hear the sauce made by their original pepper suppliers is pretty good though.
I've tried it, and I do not like it. The flavor is boring.
Checking up on Huy Fong today, I discovered that they have announced another production disruption this month, expected to last until Labor Day. Their pepper supply is too green.
I appreciate their dedication to product! Yes it's a serious supply chain management failure, but I can accept that their requirements are difficult for vendors to meet. A substandard Sriracha might be better than no Sriracha, but there are plenty of substandard vendors already. I'll wait for Huy Fong to get the good stuff sorted out.
I hope they resolve this issue soon and permanently. Maybe they and their old pepper grower can make amends, for the good of humanity.
https://en.wikipedia.org/wiki/List_of_generic_and_genericize...
https://en.wikipedia.org/wiki/Generic_trademark