I owned two MD players and used it for songwriting, along with a small directional Sony mic with a mini jack.
This was the peak of non-DAW editing. The quality was incredible, and if SSDs weren’t around the corner, I think this tech would have had a chance.
Price. MD was expensive compared to cassettes, and so were players. It deputed in 1992 at $549 vs $150 contemporary high end Sony WM-EX 808. $17 blank disks vs $1-2 cassettes.