Personally, I didn't understand what S&W was thinking when they decided to make licensed PPK & PPK/S pistols.
Then again, I've had the chance to watch a variety of Interarms & other versions come through ranges over the years when they were popular as off-duty weapons. It was about a 50/50 split for reliability, and that was usually with ball ammo. Some required repair before they could make it through a simple course-of-fire, too.
The ones that worked could sometimes give their owners the typical PPK slide-bite "tracks" across the web of their hand, and some cut across the web of the hand deep enough that it interfered with slide run and induced stoppages. (At least one of the S&W revisions lengthened the tang to help mitigate this issue.)
The high location of the mag catch could cause an occasional unintentional mag release, too.
I've seen a few instances where the loaded chamber indicator plunger became sticky and caused some stoppages, too.
Some folks liked them, though, especially the ones that ran when the owners brought them out and shot them once or twice a year. The diminutive Walther was sort of a "lodge pin" for cops back when I started. Of course, there wasn't much choice for smaller off-duty weapons cops who didn't want to carry a snub made by S&W, Colt or Charter Arms back then.
But this is nowadays, and we have a wealth of diminutive pistols chambered in .32 & .380 from which to choose.
Bottom line, I hope Walther makes it by importing their own guns, as well as selling the S&W PPK & PPK/S models and hopefully continuing their licensing agreement with MR for the MR9/MR40 pistols. If they decide to increase their advertising effort and shipments to US customers, that can only be a good thing for the people who want to own Walther products.
Of course, it would also be nice if they'd consider revising their warranty support in the form of putting aside their 1-year warranty and offering something competitive with some of the other major manufacturers, as they did with their PPQ (but that's apparently for American purchasers of that model).