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Olden days being FB and Twitter APIs? Don't forget about Apple Sherlocking independent devs. This has been happening with almost any platform for a very long time.
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Back in the day, a contract company I worked for had entire teams of people dedicated to building FB apps. When that collapsed, it came down fast and hard.
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Still true today for AWS.
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even before that, by some accounts I hear the reason VCs over invested in dot com was primarily because they saw something that could not easily usurped by Microsoft by releasing their own sh*tty copy. so they all piled in and then bubble dynamics took over.

story as old as internet itself!

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don’t forget m$ as well.
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