No - that's why I said probably. If you are growing at 60%, have access to good talent, funding, and can stay a private company for a 1-2 more years if you need to - then the rational approach is push all your dollars in growing/creating moats. I expect them to be slightly unprofitable, but who knows :)

did Magic Leap create a moat after they raised 1.4 billion?

They can be profitable but prioritize growth at this stage. Profits are an eventual goal once public. Not required when all shareholders are private.