As usual it's all semantics, what can be defined as "reliving a memory"?
Why bother with brains if saving/replaying memories just requires you to record/replay signals? Memories are fairly inaccurate remnants of what we perceived and they are not really "stored". If I need to remember a concert I went to, I listen/view a recording of it. In order to do the same on a person-by-person level you need the ability to record the signals going towards the brains and you leave the interpretations of it up to the brain. Bonus is of course you can discover endless amounts of things in those "memories" that you can not discover in actual memories.
The ability to develop recording/replay devices to record these signals is going to outpace the development of interpretation of what is actually stored/processed in the brain for quite some time and the quality of the memories will be better.
There are obviously things you can not record such as "what were your thoughts at the time" but we generally strive to remember what we saw, heard, tasted ... so why not just record it before the interpretation is done and replay it after. It makes much more sense.
Competing products? Well, you could of course just equip everyone with cameras and audio recording devices, do a reconstruction of the world based on that and then allow people to relive in VR. Quite a few privacy issues of course, given it allows for after the facts eavesdropping on any conversation but comes with the advantage that you can change what you do rather than just relive.
Endless possibilities, just none that really record brains. The detailed recording of brains for the sake of memories is fairly pointless really.