I tend to agree with this. In the beginning, they were a true innovator, they refused to be limited by the industry standard API games that Steinberg controls.
Then business types took over from the creative visionaries, and they started making "data driven decisions" to "increase revenue, monthly active users, etc..." by implementing things users were demanding, like VST support. At which point they were like the 30th best VST host on the market, and nobody cared. I really doubt their business is growing at this point, and they are only a small market share loss away from "making a data driven decision" to drop the DAW completely and focus on the VST plugin + make it subscription only, because "the numbers" say that is the most profitable course of action.