That's such a wild way to view this. I see this the opposite way: the pool of incredibly awesome fantastic postgres technology companies who are uniquely top of the game was down to very very very few.

The musical chairs here is who can get such long proven incredible fantastic well knowing talent. Who can snarf it up & convince these incredible doers to fold into the amorphous indistinct corporate giant.

Value is an intriguing concept. They may not have the revenue to justify their value or maybe they have. The price tag could be the result of an amazing negotiation or could be genuine forward-looking features they had.

You will never know.