To a grouch, changes in a business environment are nothing more than bubbles. And once those bubbles start to pop, the upstarts will get their come-uppance. The second, and even more dangerous, form is an attempt to take profits while the profit-taking is good. This latter approach allows a company's big guys to make their numbers look great while they eat their seed corn. By ceasing to invest in the future, it's quite easy to make today's numbers look good.
Market leaders go on power trips all the time.
The music industry is going through a phase like this right now. The rest of the money goes toward a record's packaging, its polycarbonate, its shipping, the record company's risk, remodeling the record company's offices, the retailers' profit, limousines, lavish parties, and expensive designer water that is served with fancy lunches at the Four Seasons. Oh, and the record company's profit. When consumers switched from buying LPS to buying CDs, record companies panicked. This was a triumph for everyone involved.