Catalytic event or unbridled optimism? Coinbase approaches public listing

Is a $100-billion valuation justified? Profit margins could tighten with increased competition.
Source: Catalytic event or unbridled optimism? Coinbase approaches public listing (https://cointelegraph.com/news/catalytic-event-or-unbridled-optimism-coinbase-approaches-public-listing)
Would appreciate your opinion about this