I think you’ve muddled your metaphor here. A falling tide does not, in reality, cause all boats to sink. All boats simply fall with the tide and remain afloat - unless they anchored too close to the sea bed and get stuck in the mud.
Perhaps you were thinking of the expression “You don’t find out who’s been swimming naked until the tide goes out”.
I’m not too sure that REA has been swimming naked in comparison to many other tech/e-commerce/online marketplace/platform companies.
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