Ask HN: Is it possible for a open source project to kill commercial competition?

I know, it sounds insane. But would it theoretically be possible for a passionate community/fanatic to make a system/piece of software/service that a corporation can't compete with without losing money?

For instance, if a system like Matrix included everything Slack and Discord charge money for free. Could that basically make people not want to pay for said features ever again, and get rid of the market altogether?

In theory something similar happened for programming languages and web browsers didn't it?