Getting outcompeted is less of a bad thing as you make it out to be. Ghost is clearly not trying to be the most popular option. They only need to make just enough to survive and pay everyone. That is way easier than trying to grow 30% YoY for a long time. Capitalists and founders talk about how if you’re not growing, your product could be better because people could like it even more. Who gives a shit if profit isn’t your MO?
Literally all they have to do is avoid a scenario where no one wants to use them. If a competitor becomes the de facto choice and they start loosing customers, they can still make adjustments. That is a lot easier than trying to be a high-growth company.