Hey Hadrien, thanks for a well researched article and for adding your content on top of the excellent commentary by Li Jin.
You may also want to consider the more social commentary on this same topic explored by Adam Davidson in his book.
Further to this, as I research this topic I came across this [old] article - https://www.joelonsoftware.com/2002/06/12/strategy-letter-v/
The author argues that theeventually one aspect of the market will become commoditised, in order to earn margins from that aspect that will not. In this case, creativity cannot be commoditised, so in principle, access to tech and platforms upon which creativity will be delivered is more likely to become more commotised as time passes.
To this point, it escapes me why VC firms are looking for value in the platforms (which are becomming more commotised) rather than the creatives themselves? Do you agree?