I agree. But, there is this narrative in the VC world that the tech game is different than ordinary economy. In tech, you have to create a monopoly due to network effects. Brian Arthur has been the first to formulate that [1], and it has become SV folklore ever since.

If you believe in that worldview, there is no space for a market with several players. The only goal must be to become the number 1 as fast as possible. See also “From zero to one” by Thiel. Needless to say that this is a depressing worldview, but either they right and then it won’t help to whine about it. Or they ain’t right, but they still gonna operate like it is true. Both sad.

[1] http://a16z.com/2018/05/16/network-effects-positive-feedback...