> Hypergrowth is a synonym for unsustainable growth.

No it's not. It's often a recognition that just one or two, maybe three companies will end up dominating a particular market simply due to economies of scale and network effects... and so the choice is between hypergrowth to try to attain/keep the #1 or #2 position, or else go out of business and lose all the time, money, and effort you already put into it.

Nothing whatsoever makes it unsustainable. You might be offering cheaper prices during hypergrowth -- those are unsustainable -- but then you raise prices back to sustainable levels afterwards. And consumers got to benefit from the subsidized prices, yay! The business is entirely sustainable, however.

Uber is the poster child of hypergrowth. They became profitable in 2023. And their stock price has ~doubled since. Totally sustainable.