I think cost is the big thing. Libre came along in the UK and significantly undercut the dexcom. This is important for both people funding it themselves and for the NHS funding it.
Libre also got approval in the UK far earlier than in the US. I know they also have supply problems, so it's entirely possible they didn't work too hard in the US because the market in Europe was big enough for their manufacturing capacity.
No, libre doesn't have alarms built in, and this is a problem. The next version is supposed to. More recently addons have come along to give alarms when low/high - miaomiao and blucon both work well. I like my miaomiao a lot.