Look, you are describing a perfectly rational theory for how events could play out in a theoretical universe, but you are just stependously, horrifically wrong if you think this story corresponds to reality in a meaningful way.
The truth is these companies have so much power (money) behind them that they don’t just keel over and die when they fail, they annihilate entire industries, catastrophically derail promising career trajectories for countless workers, structurally give themselves an impenetrable advantage with regulatory capture and most importantly utterly dominate the material reality of being a worker in that industry, even if the worker doesn’t work at the company.
Look at Uber, remember years ago when Uber keeled over and died once it became apparent that Uber wasn’t profitable unless drivers are exploited to an extreme degree? Then all those workers went and worked for other ride sharing companies that ran more effective businesses and treated their employees more humanely (in retrospect the by now well documented extremely sexist and toxic culture of upper management at Uber alone doomed it from the start)… The market solved the problem by rewarding rideshare companies with better technology and business models than Uber. I remember in California, Uber could have blocked legislation that was going to improve the lives of rideshare/gig workers immensely but they realized that the consequences of drivers and riders seeing Uber openly shit on their face and spend massive amounts of money to keep drivers from getting a tiny, measly amount more money and control over their work environment would spell utter disaster so they refrained. The wisdom of the market!
Wait… the exact, precise opposite of all that happened while Uber ran for years at a massive loss as a venture capital superweapon ripping millions upon millions of dollars into a gaping black hole and completely devastating the taxi industry without providing a truly humane or long term viable alternative for most workers or cities?
sigh do you really not understand what is happening right in front of you?