If demand for database products is/was inelastic, why are so many SaaS data vendors not profitable after IPO? (Elastic NV [0], Confluent [1], Snowflake [2], ...) They should just be able to increase their prices to become profitable. But they don't, ergo must be competing on price.
[0] https://finance.yahoo.com/quote/ESTC
[1] https://finance.yahoo.com/quote/CFLT
[2] https://finance.yahoo.com/quote/SNOW