That's a fine summary.
I just have to point out that there's never been a line level
standard for consumer electronics, just (different)
conventions, as pointed out in Wikipedia.
150 mV (as mentioned by
@cooky560) have been common with some devices once, but even 40+ years ago this mostly just applied to FM or AM radio signal receiving component (mostly called "tuners" back then). Even every cassette deck I can remember has been designed for higher levels. Higher end customer pre-amps (like e.g. Quad or Burmester to name just two) would allow to adjust the input sensitivity for a reason.
The benefits of balanced connections are all pretty clear. But it's also clear that you can get away without them in consumer electronics. Balanced connections simply have
not become the norm here There's just a small portion of the market making use of them and a party of that market is "audiophile ChiFi". In the end, it's still a niche market (for home Hifi).
Production costs are one thing, but probably more sensitive than some might think. Remember that - as always - you can spend every dollar only once.
I strongly believe that balanced connections might even let casual buyers shy away from buying a piece of kit. Going balanced only would be commercial suicide, the majority of WiiM buyers don't even know that forums line this one do exist. Personally I wouldn't mind additional TRS connectors,
if they could be fitted to the projected form factor.
PS:
I also find it kind of funny that in many domestic listening environments the voltage on the line connection might be just as high, maybe higher that the voltage on the speaker wires ...