If they’re keeping their head above water, even barely, it means they are keeping their head above water. Without delivering a product. For YEARS.
They’re earning money by selling empty promises year after year. Not a lot of money. They’ll never become billionaires from this game. But there are lots of people in there (mainly executives and CEO and whatever) earning a decent salary. On empty promises! It’s as close to a scam that it can be without being illegal.