Robinhood's been making aggressive moves across the exchange space, and they've got a serious structural advantage nobody can ignore—their stronghold in traditional equities gives them massive leverage. This is shaping up to be the fiercest competitive battle, yet the response feels scattered. Resources are being spread thin instead of concentrated where it matters most. The core issue: while competitors are juggling a dozen priorities, Robinhood is laser-focused on one thing—dominating the retail access layer. That's the real threat. If 80% of firepower isn't directed at this exact challenge, the gap just keeps widening. It's not about matching every feature or fighting on ten fronts at once. It's about recognizing which battle will ultimately decide the market share.