A malinvestment can happen when an entrepreneur believes direction A is a more valuable investment to direction B, however because of market intervention in A, the investment is made to B that was seen as less value creative. There is over investment in B and under investment in A. All of the accumulative investments and value creation in direction A were unrealized.
Discussion
Given this, I think most PWAs are malinvestments if it's a workaround to an app or feature being prohibited on a central app marketplace.