Snap still has some of the best user engagement metrics in the industry which continues to attract top advertisement dollars. Whats worrying is the apathetic attitude of management to reduce cost and boost revenues rather than being blinded by the superiority of their product. When Facebook investors complained about poor revenues from mobile users, it took them no more than 2 quarters to show a remarkable increase in their ad revenue from mobile traffic. Snap would need this kind of aggressive revenue focus to stand a chance against the might of Facebook.