pull down to refresh
You are almost correct. The incorrect part is that if the soft fork chain has more hash rate, the old clients will have to discard their bip110 non-copmlient blocks and they will accept the aoft form chain. That is exactly because it is a soft fork - blocks mined by the new rules are seen as valid by the old clients.
When miners are working on two chaintips, only one of them will become part of the longest chain. From the perspective of the longest chaintip, the stale chaintip might as well not exist: the miners expended the effort to mine, but their block reward doesn’t exist in the longest chain.
There are three possible outcomes:
All that to say, whoever ends up on the losing side of reorgs “gives up”/looses revenue.