If Jio is profitable, or would be profitable if it did not invest all the profits (like Amazon used to do), it's another story. But if the unit economy isn't working, then yes, it'b be an Uber, a unicorn which is too heavy for its own hooves.
https://www.business-standard.com/article/companies/reliance...
They're also heavily indebted and that profit is propped up by some rather questionable accounting shenanigans, so take that number with a pinch of garam masala. Still, the unit economics in mobile telecoms are very different from an Uber: setting up a network from scratch is extremely expensive, but the net cost of adding an additional subscriber is nearly zero and the revenue from each additional user goes pretty much directly to the bottom line. (Again compare Uber, where they probably lose money on many rides due to driver subsidies, predatory pricing, algorithms not accounting for traffic etc.)
That is not the story with JIO, also JIO is also owned by RIL which has other businesses and would NOT need approvals / investments / bureaucracy to move cash from there to JIO, if need be.
WAY different than Uber / Wework, etc.