Because it makes no sense to do so.
Even if someone uncovered the exact ingredient of Coca Cola or even if you made a Coca Cola recipe that tastes better than real Coca Cola, they wouldn't able to match the existing brand power of Coca Cola, nor the consumer's brand recognition and history with the general public. Coca Cola had poured billions and decades into making one of the most recognisable brand in the world, their brand is ingrained very deeply into the public's minds. A new competitor wouldn't able to replicate that overnight.
Of those companies that do may have the brand power to match Coca Cola and enough R&D budget to match, say PepsiCo, they wouldn't want to be seen dead advertising that they had made an exact clone of their competitors. It works better if they make and market themselves as a better drink than as a clone of a competitor. It's very likely that PepsiCo and Coca Cola knows pretty well their competitor's recipes, but they have absolutely no incentive to advertise that.
Also, even if you manage to uncover the exact composition and manufacturing process of the product, the public still won't believe it unless The Coca Cola company itself admitted that a given recipe is 100% truthful. A large percentage of the populace would always remain skeptical. Noone would give you research grant to reverse engineer Coca Cola.
Tasting isn't an objective experience, the way you experience a drink is affected by what's in your head just as much as what the chemistry of the drink. Even water from the same exact garden hose tastes different depending on how you are presented it with. For the same reason, even if you put an actual Coca Cola into a supermarket brand Cola bottle, a lot of people would still think that that bottle of Cola tastes worse than actual Coca Cola.
Finally, consumers won't buy fake products when the real products cost something like \$1-\$2 a can. If you drink a can of fake cola in public, that says something about your character, probably not in a way most people want themselves to be perceived as.