You're missing the part where Apple initially wanted to partner with Masimo and when they refused, decided to poach several employees from Masimo to develop the competing product.

Masimo seems to have a legitimate case here, and Apple is definitely in the wrong, as they knowingly attempted to copy Masimo's product. The late publication of the patents could be due to literally anything, but it doesn't seem to be done willfully to 'trap' Apple into this lawsuit. Because of that, I'd argue that this is a bit of a fault in the broken patent system, but that Masimo is not deliberately patent trolling here.