The uses of the 'M' or 'Mark' or 'Mk' designations are extremely variable, among nations, branches of service, and over time. The designation M16 absolutely does not mean that there were 15 weapons of its type previously adopted. Consider the M1 Rifle. Its predecessor in US Army service was a variant of the 1903 Springfield (A3). The M1 Garand was more or less replaced by the M14. There was an M2 rifle, but it was a limited issue sniper's rifle. The M16 was the military version of the privately developed Armalite AR 15. When the US army accepted the weapon, it simply jumped the number from 15 to 16, and replaced the commercial 'AR' with an 'M'.
Classic British rifle marks are are bit more logical, but not much. Lee-Enfield later became just plain Enfield, and the 'Marks" were in Roman numerals (usually). The SMLE (Short Magazine Lee Enfield) Mark III was succeded by the Mark IV, but there are many variants, usually identified by an Arabic number. Similar Marks were applied to British military aircraft, with variants identified by small case letters: Spitfire Mark V (b).
The US Navy has its own production and adoption codes, but these are also devoid of any obvious clarity. A 'Mark' may be the model actually adopted out of a much longer numerical sequence of tested but not approved versions. Or, the 'Mark" may have a different justification entirely.
Manufacturers like Scubapro use the 'Mk' designation primarily because it sounds sexy and has a military flavor. Actually, all this commercial 'Mark' stuff, whether it's Jaguars or regulators, is just hype. Walter Mitty stuff.