I think that is a good example of the way the Swiss tend to work (or at least did, they did change their methods during the last decennia): Overengineering their products to such an extent that they are excellent target pistols, albeit a tad on the expensive side, and not much better as a purely military sidearm than many solutions that cost only a fraction of their guns.
By the time they won a world championship, neither DWM nor Mauser were actively manufacturing lugers so not a lot of comparison possible there. If you look at the early 1900s, you will notice that many championships were won using DWM pistols.
During the development of the 9mm 06/29 the Swiss were shocked when they found out that an old DWM performed better than their solution
I like the 06/29 because it is a milestone in the Parabellum development, although not the prettiest one. But with all its intended improvements it is not a better gun than any other Parabellum pistol, just a more cost-effective solution (according to Swiss reasoning, at least).
The SIG P210, although a newer gun, never did manage to obtain the accuracy of the Parabellum pistol, which is somewhat painful as well. And I doubt it was much cheaper to make either.