In the end, everyone lost and there are millions of bikes in landfills.
If you're interested in the bikeshare bubble, Asianometry did a video on it a while ago.
The notion of comparing this to Chinese bikesharing is comically absurd.
"Allegedly".
Plus with a lot of accounting tricks, and this not being recurring to make their books look nice for the eventual IPO.
Now, all this talk of pacing the frontier obviously means that they are afraid of the competition. It could be the open models eating their margins, but also competing frontier models forcing them to invest more and more for diminishing returns, just to keep up. They would certainly benefit from a "Moore's Law" roadmap to pace the advances, and seeing that they lobby for US laws, it would probably mean they are more worried about increasing spending. Though outlawing both open models and Chinese models would be good for their bottom line as well.