This is one of the more over-used quotes. In this case, it's not particularly relevant since US fiscal and monetary policy is almost entirely designed around incentivizing long-term investment over short-term gains.
If Palantir is indeed a good "long run" bet, then every pension fund, 401(k), mutual fund, or ETF (read: most institutional investors) should in theory eat it up after the IPO.
To borrow another pithy quote:
"Show me the incentive and I will show you the outcome."
- Charlie Munger
or maybe not in theory but in practise, the entire stock market performance has shifted so strongly towards technology companies due to the general low growth environment we're in that the whole thing comes crashing down in five to ten years because there's actually no business model
It isn't like governments aren't aware of these tactics. They can and do work to substitute out vendors once they get too expensive. In fact I've heard whispers of several customers of Palantir doing just that.
(Disclosure: I work for a competitor of Palantir.)