It appears that industry standards are not well regarded by formal standardization bodies. Then it makes all the sense in the world to have industry bodies like Continua Alliance to promulgate industry standards.
“ETSI is non-profit organization whose mission is to produce telecommunications standards for today and for the future. It is an open forum that unites over 800 Members from 53 countries and brings together manufacturers, network operators and service providers, administrations, research bodies and users. ETSI prides itself on being a market-driven organization; its Members, which represent all aspects of the industry, decide its work programme and allocate resources accordingly.”(ETSI 2000c)
However, in the quest for interoperability, European Standards committee tends to neglect the industry based standards. They consider them of lower quality. A standard developed by a formal standardization body has the advantage that it undergoes a certain process (apparently just the right one to give perfect quality) but the cherry on top is that governments may interfere and refer to it within a law. Thus, even though there is no quality guarantee besides word of mouth, the adaptation process is secured to some extent. Selection/adoption of any standard will entail, besides the actual technical details, a bit of drama over who can and will make more profit, irrespective if the environment is official or industry based.