> the hyperscalars are acting like Amazon in 1998

I hope you remember furniture.com, pets.com, webvan.com, kozmo.com and many others.

Amazon.com (during 1998) in some sense is the exception, not the norm from the bloodbath in stock markets during the dot com bubble.

(I highly recommend the book How the internet happened for more knowledge about things before, during and after the dot com bubble.)