“…Am I missing the obvious and that cold brew is amazingly flavourful…”
With various adjustments to the cold brew process, it is very, very close to the “carefully prepared v60”. However, only 1% of coffee shops can make an acceptable cup with a v60. Well… “can” is more of “choose” to for various reasons which some are understandable (practical realities).
Back to topic, there is a separate thread here where those corrections for cold brew are noted. It is questionable that anything over a liter can be prepared to pull out the full flavor profile. The objections that Tim Wendelboe had are eliminated and a simple trick is used to remove any chance of oxidization during the cold brew process. Not sure I mentioned what that was in the other thread, but leave as an exercise for the reader, it is trivial
This method though, is not practical for a cafe IMO so…
NO is the answer in a cafe context, though, cold brew by Klatch works very hard to include the higher notes that are completely missing in other cafes cold brew. I have a brand new Ethiopia cold brew from Stumptown that I have yet to try, but have hopes. I expect they are continuously innovating to solve the challenge you have mentioned which is magnified for large batch commercial production.
There is no coffee that exists, at least on this planet, that will meet your expectations without those corrections to the brew process (hot bloom, etc.,).
What I have seen more recently, is the “true” iced coffee where one can brew individual servings that are fully flavorful (referred to as Japanese method, dunno if name is true). Major adjustments on grind, brew ratio, math of ice in the carafe, etc., Crema Cafe in Nashville has the definitive method for this, I have great results with it though grind is tricky with variations by varietal and roast level and the low brew ratio.
So, net of it, cold brew is solved for the home. It is not solved outside the home, but Klatch/Stumptown are pushing those boundaries and I am sure others are as well.
Also, here is a little known value statement for cold brew. Marginal cafes for which there are many, that cannot brew pourovers correctly can always provide a consistent consumer experience with cold brew. May not be the best, but generally is never BAD as to be undrinkable.
When I happen to be in a Starbucks on travel, what can I order? Cold brew. Unless Clover machine.