This is why so many networking companies sell to Cisco, and why Cisco's business strategy depends so much on M&A: Cisco's great asset isn't IOS, but instead that it runs one of the world's most powerful enterprise sales operations. If you sell network equipment, the basic concept of comparative advantage almost guarantees that Cisco can do a better job extracting value from it than you can.
"If you sell network equipment, the basic concept of comparative advantage almost guarantees that Cisco can do a better job extracting value from it than you can."
Doesn't take into account branding, sales, and marketing of a new organization which are always able to drive business purchases. Even in face of a formidable competitor.
Of course if you want to look at things at a point in time you could also be correct. But roll back to when Cisco started and see if there were companies that also had "one of the world's most powerful enterprise sales operations" that lost out to someone else. Like Cisco.
So while you could be correct it's also possible that "many networking companies sell to Cisco," because it's a "pay window".
After all wouldn't that be one of the reasons that you sold your company?