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Amazon Basics covers a massive range of products, from computer mice, to dog food bowls, to bed sheets, to batteries, to chairs, to panties.
Even the most die hard Amazon zealot would be hard pressed to believe Amazon invented, or even innovated, in most or all of these fields.
It is the equivalent to the "store brand", a generic version of a product, made at low cost so that the price savings can be passed on to the consumer to undercut the name brands. And before the Amazon defenders jump on this, I'm not passing judgement, it's been a practice before Amazon was a thing, it's been a practice since before Bezos was alive. This is just Amazon utilizing its position to sell a generic product of which they get the whole of the profits (or a very large share), vs whatever they have worked out with other sellers.
I'd be very surprised if Amazon Basics was contributing to the 5 billion in losses, since its whole premise is a low cost low reward system because there's no risk on the products, people need them, and there's no R&D going into them, just replication of an existing product and slapping "amazon basics" on it.
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