问题在于，抽佣并不是一项可以无限抬升的变量。它直接作用于供给侧的现金流结构，而供给侧恰恰是整个系统中利润最薄、弹性最小的一环。无论是司机、酒店还是本地生活商户，其净利率长期处于个位数区间，人工、租金与能耗等成本具备明显刚性。当平台费用持续抬升，结果往往不是少赚一点，而是迅速逼近盈亏平衡线。
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