Everything is going to look like this because of the financial "stimulus", low rates, easy debt borrowing, and people chasing yield. Companies like Amazon run at a loss and investors hope they're the last company standing in their field, but obviously they'll just lose marketshare when new competitors come in backed by new money who operate at a loss and give better deals. Jet gave crazy deals in its early days, was backed by big money and then Walmart, and will probably follow a similar pattern.
Amazon, Netflix, Uber, etc. are all cash sinks with investors hoping for a miracle to make them hugely profitable, similar mentality among investors as those who buy into icos hoping if you throw cash at a problem it'll generate big sustainable revenue. It just won't happen, and the credit crunch is coming soon anyhow.