Except the barrier for entry on building a stake pooling operation is relatively low, so there will be a substantial amount of competition in the space over tim

Except the barrier for entry on building a stake pooling operation is relatively low, so there will be a substantial amount of competition in the space over time. Coinbase for instance is taking a 25% commission on the staking earnings, so anyone who can come in under that, or offer options in terms of liquidity on the staked funds that can be reinvested, will attract a good amount of the share of stakes. There is even a fully decentralized pooling system that is nearing release.