Incumbents are great at momentum. They're
not great at innovation, customer experience, etc. They only
reason most incumbents are still relevant is due to their prior
market size.
Most true, and even then, there is a visible change to the bottom
line on how much money they print now vs. then, despite the fact
that they are still printing money.
This means that they all know that the dark day is looming, and even
if they can see it drawing closer, telco's are stuck with not
knowing what to do about it.
I mean, if anyone remembers the days of SMS (2000 - 2008) - that was
as free as money printing gets.