And that exact benefit is the source of trouble.

Indeed. The one way for them to lock in market leadership forever is to drop the fees and make their money on payment processing, insurance offers, user screening and safety deposits that renters may or may not decide to opt in for.

This would allow users to contact and vet each other before agreeing on a sale while still having some profit streams.

Basically AirBnb would become a specialized Craigslist on steroids, but it can only be done if the founders want to build a long term business netting them a few million each year rather than a VC darling to be flipped for a couple of billion dollars.

As Upton Sinclair once said: "It is difficult to get a man to understand something, when his salary depends upon his not understanding it!"

And benefit from downplaying the risks of renting / putting a property up for rent