"Can CTL really compete"
That really is the question. As gross margins continue to decline indicate they are struggling. After all, it is this number that covers all else. The only way to overcome declining GM is to cut costs which they are doing but this will come to an end.
My way to measure competitiveness is to take all the PR with a grain of salt and watch the GM line. The long term threat to FCF and EBITDA is a continual decline in GM$.
That said I expect 2021 to show a turnaround in GM but my only backup for this is revenue declines are slowing and GM% is about at 2019 levels although GM% really needs to cross 60% to kick start the GM$ side.
If they cannot turn GM$ around in the next say 2 qtrs they have a problem competing IMO.