Why I will not want to invest in $Roku Inc(ROKU)$

I'll be brief with my points so you know my thoughts quickly on the matter and can weigh in your own.

1. Red ocean territory. Go read up and understand red vs blue ocean if you're wondering on this phrase. There is a myriad of entertainment platforms. Why in the world do you necessarily need to go through Roku? Baffles me. 

2. Declining user base. The additions are smaller. They are spending and spending to grow the base but it is not keeping pace of the expectation of a tech stock. 

3. Nothing spectacular. They are trying to use a platform to gather a user base and generate the same old ARPU model. There are different customer profiles across that base. Yes, attraction, retention, upselling and cross selling. Nothing wrong. Same with $Teladoc Health Inc.(TDOC)$. Just that the alternatives are many and people don't necessarily need to be om the same platform for everything although you may try to he all things to all men. 

This pandemic darling is just another entertainment stock trying to many things to many people. This introduces cost complexities even though it tries to inculcate cost synergies. An uphill battle perhaps.

Yes, It resolved some YouTube spat. But that to me was just a final ditch for people to get out of the stock to prevent more losses.