>>58306143>AlterlyI remember someone /here/ said that Alterly focused too much on technology but lagged when it came to establishing a proper fanbase. That's why they did a 3D concert (I think they're the first to do that among IDchuuba?) but went south in the end.
>MetanoiaI don't watch Metanoia except Kawi. Maybe someone who's more familiar with them can answer. That's why I prefer one of /warkop/'s hypotheses: too dependent on the spearhead and failed to build brand loyalty.
For other ID corpos, I think the problem related to the business model is incompetent management. Some of the local corpos don't even know how to run a VTuber business. Another one is not enough money to run the agency, due to no corporate backup at the start or inability to attract one. A sustainable business model still requires capital, after all.