Yeah, the story is usually like this:
* People found an ISP $NEWCOMER in an area where $ESTABLISHED has bad service and high fees.
* The newcomer invests loads of money into cabling the neighbourhood with fiber (or wireless internet) and offers deals with lower fees and better connectivity than $ESTABLISHED
* In a static world everyone would switch to $NEWCOMER and they'd make a lot of money, being able to expand to other places. But executives at $ESTABLISHED aren't stupid. They invest as well and lower their prices, too, just enough to be lower than $NEWCOMER.
* $ESTABLISHED waits until $NEWCOMER runs out of money. They rise prices again. It doesn't even matter if its price reductions mean $ESTABLISHED loses money in that region. The regions where there is no newcomer bring in enough cash to pay for the few regions with (temporary) losses.
Of course even if $NEWCOMER runs out of money, someone will buy their infrastructure and offer similar services, but there are more components in the competitive moats of established ISPs like (local) government granted monopolies in exchange for providing public buildings like school with free internet, or the bundling of streaming services with internet deals. Those moats usually are wide enough that there is no avail for small ISPs to break through. That being said, if you break through the moat, it's an insanely profitable business. DTAG had to invest tons of money until they got there and now they are in the place where the big ISPs can't harm them any more and the american daughter company is now the favourite of the DTAG shareholders.