Totally agree with what you said. I'd like to add that another part of the break-even game is that often all it takes is for your competitor to take one step in the wrong direction, for you to become profitable.

When Blockbuster (for example) took on streaming to compete with Netflix, not only were they far too late, but they also charged a fee for movies. People didn't bother because Netflix had unlimited streaming. They also had a poor catalog if I recall correctly. Too many mistakes.