I appreciate this concise framing. I do think it gets more complicated than this though.
Defining the pie gets really complicated. Sometimes you make one pie bigger and another smaller. Companies like Lyft certainly decreased the taxi pie but then made a new one altogether.
I believe there are fair ways to extract value from what already exists by creating a better version in a competitive market. Ultimately I think the value should be defined at the customer and societal levels. The tangents and levels in between make things messy.
1. Add value so there is more pie to go around and get your cut of it.
2. Extract value from what already exists. You get yours, but other people tend to get screwed over.
If you aren't doing the first, you are probably doing the second. This is not really a good long term strategy.