There's a huge angry essay that I have on this topic but it kind of boils down to:
1. if you can't be smart, be predictable within the limits of your smartness;
2. you are about 1% as smart as you think you are.
Amazon wins on the bits where it doesn't try to be smart in terms of predicting what people want, just physical reality - logistics basically, it has a brutally efficient end-to-end logistics system, which mostly only benefits Amazon but reduces average delivery times. It is toilet when it comes to predicting what people want, no matter how many hugely smart folk they have in their dev teams. When those two things interact the "thinking we are smart" always wins out for corporate decisions, and loses in reality.
But this is standard. They all think they are smart. Advertising has been getting "smarter and smarter" for years now and oh look, internet advertising has been hugely tanking for about the same length of time.