The issue is that they need a LOT of catalyst surface area to get the job done. The industry standard solution, which AFAIK is in place because it was available as an off-the-shelf component, is a steel honeycomb with an aluminum oxide wash coat.
The wash coat provides an irregular, very high surface area surface, and is required to adhere the catalyst to the substrate. But the wash coat is also the bit that sags and buries the catalyst as it collapses and its surface area is no longer adequate to do what we need it to do.
No chemist am I, and I'm sure if there was an easy and cheap answer to finding a better wash coat, they'd be using it by now.
There is always the other route though, which is using the existing chemistry, starting with a flat wash coat, and increasing substrate surface area. This is complicated by solid fuel- you get a lot of debris in the exhaust- so you're not allowed to have long tubes, and only straight shots so they can be cleaned out easily.
In the end, the question probably becomes, "Will we sell more conventional looking stoves that take consumable cats, which the average purchaser will never need to replace because they will put about ten hours on it in its lifetime, OR would we sell more six foot high stoves with lifetime cats that are as large as the firebox?"
I'm not a stove manufacturer, and even though I would totally buy a six foot tall stove with a lifetime cat, I can see that that's a niche market (especially since a lifetime cat needs a lifetime of maintenance, because even a flat wash coat will experience masking).
Right now I think the alternatives are all worse (those being primary-only combustion which suck, tube/baffle stoves which don't go low and slow, and wood gasification which has a set of associated penalties and headaches that will make you wish you'd stuck to one of the previous ones)- but I do hope cats improve.
This has been late night random thoughts from jetsam. Tune in next time when I try to work out how to modify a cat so it won't randomly swat my stuff off of tables. (I have a couple ideas already.)