Amazon is also deeply fiat and only won because of fiat. Their initial growth was funded by never ending cheap debt. They always just skirted the line of maximizing the debt they held while still bring able to make the payments.

Only cheap debt makes it possible to grow that fast. The speedy growth is how you crush all of your competition who wasn't enough of a degenerate gambler to take on reckless levels of debt to fund rapid growth at all costs.

Fiat funds and reinforces the first mover advantage.