People and businesses don't behave rationally. They behave with bounded rationality [0]. That is, they make the most rational decisions with information available to them. No one is working with perfect information. This leaves plenty of room for them to leave money on the table.
With that said, I have no guarantee that these companies are leaving money on the table. We also have no guarantee that they aren't. The best you are going to be able to do is create a model. Models are not reality. Models use assumptions. You're making two huge assumptions. One, that the models assumptions are correct. Two, the people interpreting the model are doing it correctly. Humans are imperfect, we make imperfect models, those models are interpreted by other imperfect humans. Making concrete statements either way is silly in my opinion.
With that said, I have no guarantee that these companies are leaving money on the table. We also have no guarantee that they aren't. The best you are going to be able to do is create a model. Models are not reality. Models use assumptions. You're making two huge assumptions. One, that the models assumptions are correct. Two, the people interpreting the model are doing it correctly. Humans are imperfect, we make imperfect models, those models are interpreted by other imperfect humans. Making concrete statements either way is silly in my opinion.
[0] https://en.wikipedia.org/wiki/Bounded_rationality