Saylor is very careful not to include in these graphs a comparison with other companies that are proving to be much more profitable, such as Metaplanet or ALTBG. In these cases I could argue that it is because they are not USA companies but I am looking forward to companies like XXI Capital being launched and seeing the comparison of the first 6 months. I would bet quite strongly that the profitability in bitcoin per share of these companies will be higher than that of MSTR for a mathematical reason: it will be relatively easy for these companies to double, triple, or more their bitcoin holdings, while it will be impossible for MSTR to obtain such profitability.
These other companies just started and are getting the initial boost of adopting a Bitcoin strategy. The question is, can they keep that pace as their marketcap goes up? It is debatable. Also, the market is not properly pricing the size of the MSTR stack. The amount of debt and investing other companies would need to do to get to 500k, and the possibilities that a company with 500k+ BTC have, are clearly not included in the current price. The market is giving a boost to other companies as a short term speculation, but the long term thesis remains more bullish for MSTR because they got the headstart and nobody can realistically take their #1 spot.