Richard Wolf had a very good take on all of these Silicon Valley "disruptors". It's basically been the neoliberal US american MO for the past quarter century:

Step 1: get a bunch VC money by promising the moon

Step 2: "disrupt" by undercutting the established moon due to lack of regulation. Even though it's an inferior product, it's VC subsidised, so it's cheaper than the established businesses.

Step 3: due to lack of regulation, your business drives established operators to bankruptcy. This is basically dumping but the regulation hasn't caught up.

Step 4: become the monopoly and suck as much money as possible from your customers to generate "shareholder value"