Comment by Fogest

Let's not forget that any time a competitor starts taking part of their market or becoming successful they just buy them out with an amount of money that is hard for any sane person to turn down.

The WhatsApp founder seems pretty against Facebook and is encouraging and funding Signal. He took money from a company he doesn't believe in or like because who wouldn't. And this is despite him not liking Facebook. So realistically competition is great on paper, but in this case the competition already has such market dominance that any new company that tries will get squashed with a buy-out or other aggressive tactics. So realistically I don't see how competition will do anything.