Each side seemed to be developing a weapon that could out do the other. Such as to combat the T34 the Germans built tanks such as the Tiger to combat it. And later in the war, as you mentioned, the Jagd Tiger arose to combat threats such as the SU series and other recent Soviet armored developments. I think that the King Tiger was a an example of a German system that was overdeveloped and too heavy. Despite its formidable appearance, most of the King Tigers were lost due to abandonment than combat and they were sucking a lot of the precious fuel resources the Germans had. And its very heavy armor gave it a lot of limitations.