The article compares Bloomberg to Thomson Reuters, and reduces things to market data. Bloomberg is so much more than market data. There's historical data, email, news, dealer to client RFQ style etrading for rates, credit & FX and analytics too. The lock in effect is phenomenal, and the breadth of the offering makes it nigh impossible for new entrants to dislodge. Yes, occasionally terminal numbers go down when the big banks try to manage costs down, but at the moment I can't see how Bloomberg's incumbency will end. Not much has changed in the 11 years since I blogged about this [1].
[1] https://etrading.wordpress.com/2006/06/01/25-million-lines-o...