i don't know that there are that many great bass modeling options out there.  IK's SVX goes for $229 and that's just 4 Ampeg amps.  as far as hardware based options the picking is somewhat slim and L6's offerings seem to be priced right for competing with them.  L6 has been pretty good about lowering prices on things that have probably paid for themselves (at the very real risk of pissing people who paid full price off)--i'm sure that everything they make on a guitar amp pack is gravy--so it's possible that they just haven't gotten the return on their investment for the bass stuff yet.  one interesting possibility would be splitting the pack up into genre specific segments and selling them as individual packs.  possibly a Bass Essentials pack that would be similar to what's included with a StudioPOD would be cool and probably cover most of what a guitar-player with a cheap bass would need to lay down some tracks then possibly Jazz, Rock, Metal and R&B packs for people with more specific tastes.  the bottom line is, if there is a better, cheaper option out there, go for it.

what i think is interesting is that, with the x3, they have gone away from the model pack model (at least to this point--when do you suppose they might buy some new amps to model?) but the Studio PODs are still running with it.  so, i guess that i have two gripes where model packs are concerned: i have to admit that i was a little put off with the x3's simply because, having spent the extra money to Fully Load my XT, it didn't get me anywhere if i where to upgrade to an x3--i haven't looked at the difference between a Fully Loaded XT and a std XT on ebay.  Also, it's a little aggravating to me that i would have to spend $99 just to bring my TonePort GX up to the minimum capability of my XTLive.  if the GX would have come with the Power Pack i think i would have been more likely to Fully Load it with the other expansion packs--as it is, i ended up just going for the Metal Pack which is what I use 99% of the time on my XTLive.  of course the TonePort only cost me $49 so i don't really have a leg to stand on in this argument.

personally i really liked the model pack concept when it was first introduced (i even bought the Collector's Classic pack which i didn't need and still haven't used) so i'm curious as to why L6 decided to go Fully Loaded with the x3's.

Slingy, i agree with what you are saying--it's really just a matter of finding the right one (right one being amp/cab/mic and wet/dry mix.)  i have always thought of the gear in a POD as a music store (or candy shop) and you just pick and choose the ones that you like--i've got my go-to amps, cabs and effects for both guitar and bass but it took me awhile to pick them.  it's always nice to change things up too, instead of going to Guitar Center and buying a new head you just pull up an amp that you haven't really used and do some exploring--Virtual G.A.S. and it's all free (or cheap if you add a Pack) and you don't have to hoc your old gear to get a little side-action from time to time.