The vine crowd has long moved to Tiktok; even IG and YT couldn’t steal mindshare from them. Vine has no chance, given that they’re starting with a 6yr old product
I don't know much about Vine, but anecdotally I have ended up spending way too much time on YouTube reels, and have also now been drawn into the equivalent on Facebook, whatever that's called, and I barely use FB. So I don't think the super short form video market is a winner takes all one by any means.
On the contrary there's plenty of room for genuine innovation in this space. For example FB short form videos don't have a dislike button, so I have no way to guide the algorithm, and YouTube reels seems to zero in on some local maximum (in my case, game of thrones and golf videos). There's so much room for improvement in this space.