Currently it is like Hybe >>>> SM > JYP > YG. Hybe is already dominating all other companies. SM is the not so close second.
Now if the deal between the #1 and #2 goes through the combined market share leaves others in dust. How are they supposed to compete if not by merging together either as one company or as part of a "holding group" with multiple labels, just like Hybe itself? Or otherwise risk getting absorbed by Kakao or another big holding?
Imo the first logical step for JYP and YG would be looking and smaller labels such as Cube (Idle) and KQ Entertainment (Ateez) and start from there, otherwise Hybe or Kakao will just go ahead and absorb them as well. Imo JYPxYG don't have much time left to think.