My understanding is that unicorns are typically so highly valued because investors believe they will be able to corner their market and achieve monopolistic control over it. This is often their long-term strategy: undercut the market, drive out or buy out competition, and eventually increase prices and enshittify service while continuing to buy or legally destroy any potential competition.
There are a lot of links in that chain that strong pro-competition regulation could break.
There are a lot of links in that chain that strong pro-competition regulation could break.