> These guys are doing what any for-profit enterprise would do

I'm sort of without, in the sense that they are for profit, so the CEO is going to attempt to increase profit. The problem arise when short-term profit is priorities over all else. I don't see the point in trying to have a record year, in terms of profit, if that means that customers/users are leaving your business long term.

Part of it might be the whole misguided SV startup mentality where we burn a ton of money and then sort of hope that profit will appear when volume is reached. Imgur is a pretty good example, not once did the founder stop to think about why all their competitors sucked. In the long run Imgur was forced down the same dark path because the idea is, and always was, going to be unprofitable.

I don't think Fandom is unprofitable necessarily. They have a lot of original content, written by unpaid users, and which has been increasing in popularity. The problem is how profitable they need to be vs. how profitable they want to be. They don't need to be a billion dollar company, there's nothing wrong with being a 100 million dollar company, or how much they are able to sustain without pushing users away. They just have to not lose money.