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My 2 cents? Amazon is clever, but that's not what this is about. Private label is about competing with Walmart, Kroger, etc. Consumer staples are private labelled by Amazon to win share. However, they're wasting their time doing this in other categories.
Bezos' decision to testify before Congress is hubris. The way social media and modern news works there is literally no way this works out for him. Would be better to keep a low profile and just keep doing more for prime customers than testify.
There are downsides to being the smartest guy in the universe. For example, having the hubris to think that you can outsmart, all of congress preparing gotcha questions, and social media/the media cutting up what you say to make you look like an asshole.
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