It's worse. When a company like this is "mature", they don't try to appeal to new users. They instead squeeze what they can out of the existing user base, because that user base is probably already dying off. This isn't about attaining a steady state business, its about seeing how much of the toothpaste you can still squeeze out the bottle before it crusts up.

This practice is derogatorily called "vulture capitalism" for a reason. I hope the remaining engineers are either lining up for retirement or networking around for their next gig.