<ul data-eligibleForWebStory="true">Perplexity, once hailed as the future, now faces criticism for being thin and replicable.The company lacks ownership of core components, making it vulnerable to competition.Perplexity's AI-native product is seen as more of a demonstration than a robust platform.Its user interface is elegant but lacks deep functionality and real-time adaptation.Perplexity's reliance on external APIs and lack of deep intelligence make it easily replaceable.The product's value proposition of providing sourced answers is reproducible using community tools.Perplexity's content scraping practices without permission could lead to legal challenges.Its lack of ability to ground every claim to a specific reference poses risks in various industries.Perplexity's interface emphasizes confidence over accuracy and context.The company's focus on being early in the market rather than irreplaceable puts it at risk in a competitive AI landscape.