I’ve seen a number of comments here and elsewhere to this effect. The argument that the disrupter gets disrupted by a competitor. Rather than a careful analysis that might serve to put this argument to rest, I ask you to show me examples. I can think of none. You might come up with one or two, but this is about as common as hen’s teeth. It just doesn’t happen.
The one that comes to mind for me (without referring back to the DotCom bust and Netscape) is New Relic. DataDog came around and is eating their lunch. Makes me leary of the observability space. But I also like DataDog a lot.