> The floor price you're seeing isn't a stable equilibrium, it's a pile of investor money that hasn't entirely finished burning yet.

All that says is that it gets more expensive in the future as competitors exit the market and sustainability becomes important. That’s why Uber and Lyft were so cheap until they killed taxis. One major difference of course is that some models will remain largely good enough and the incremental cost of running will keep dropping to 0 over time since the hardware needed doesn’t get more expensive and is already purchased.

I think we agree.

I only object to taking current prices as if they are perpetual prices.