I'll follow you because you put out some interesting stuff.
I however disagree that GMO is currently a major threat to Bitmain.
Antminer S9 was released two years ago. I expect that since Bitmain wants to stay competitive that after the release of the S9 they most likely started developing their next Antminer model.
I expect Bitmain will release a new model soon. They probably have something ready already they just didn't release it to the public while they could still profit off of selling Antminers.
You are right but point is that competition is entering field. Bitmain has huge advantage but it will not have monopoly in the future like now.