When your "moat" is no longer built on loyalty or locking in assets, how do you stay relevant to a generation of agility-focused users who aren't looking for a relationship, but for a solution for this mission?
Short answer
Be the water, not the well.
Long answer
The instinct is to build walls. But a generation of agility-focused users doesn't want a fortress, they want a door that opens exactly when they need it.
Relevance now lives in the quality of the moment, not the length of the contract. This means optimising for depth of usefulness over breadth of features. Execute closer to the speed of the user's thinking. If the gap between their need and your solution is two weeks, you've already lost them.
The craft underneath all of this is judgment, knowing what matters in this moment, for this mission. That's not a product strategy. That's taste. And taste, quietly, is the only moat that compounds.