Upwork freelancers and employers clamor anew for a new platform

Is it possible that it takes more revenue than up Upwork was charging for it it to be a viable business? I know some business charge more than their actual costs just to capture market share. Eventually they either go out of business or start charging more.

On the other hand, I wonder if their business model/pricing would have worked if they didn't have investors to satisfy. (I don't know if they have investors.) If the latter is the case, a "freelancers cooperative" could be viable at a competitive price.