An article on price wars by two McKinsey consultants makes the following argument: That the [tit-for-tat} strategy is fraught with risk cannot be overemphasized

An article on price wars by two McKinsey consultants makes the following argument: That the [tit-for-tat} strategy is fraught with risk cannot be overemphasized.  Your competitor may take an inordinately long time to realize that its actions can do it nothing but harm; rivalry across the entire industry may escalate precipitously; and as that "tit-for-tat" game plays itself out, all of a price war's detrimental effects on customers will make themselves felt. 

How would you reconcile the views expressed in this quote with the advantages of tit-for-tat claimed in [Chapter 7]?