Reflections on Palantir

Can someone explain to me what is the Palantir's business model ? I haven't heard any large, meaningful project they been involved in, but I keep hearing the company name & how hot they are and their stocks are going to blow-up any day (some of my friends kept their stocks for the last 4-5 years with very little gain compared to other software companies). I know of the smaller software companies that are less than 100 people and have a very meaningful impact in DoD & Gov space.

I use Foundry for work. It makes data ingestion, cleaning, quality check and automation easy. After all the data is ingested, running analysis/RAG on them become extremely easy.

Basically, it's end-to-end data engineering and analytics. And the more a company uses/invests into the platform, the more benefit and locked-in they are.

"End-to-end data engineering and analytics" is quite a bold claim from a single service provider.

Here is the link for anyone interested: https://www.palantir.com/platforms/foundry/ and a YouTube explainer: https://www.youtube.com/watch?v=ZGGRCTTjLfQ

Given you've used it, just how self-service is it? To me this seems like such a large claim that - if it's doable - I'm surprised there are not more competitors in the "vertically integrated data providers" space.