They failed because they gave advances that were never going to be paid back and expected artists to bring in customers.
The demand to produce something in an artists style is low. The volume required to make it interesting to artist isn't present.
AI adoption and pushed back is greatest with artists you would be better off asking for money to shutdown AI.
The tech itself sounds interesting and would love that writeup.
The tech doesn't sound that interesting at all. Every AI Degen thread on 4chan and similar has included model fine tuning instructions for a few years now, for the express purpose of cloning an existing artists style. I also find it interesting that they included a quote from an artist pointing out the hypocrisy of using an existing model, trained on unlicensed material, but never actually discussed that particular issue in the article.