Was the British 21-inch Mark IV torpedo intended to replace the Mark III?
Short answerIt effectively replaced the Mark II because the Mark III did not become the expected operational intermediary.
NotesThe question assumes that numbered torpedo Marks followed one another cleanly into service. The Mark IV effectively replaced the Mark II. In the sequence described, the Mark III never became the operational step its number suggests. Development numbers do not necessarily map to an uninterrupted service chronology.