>>13463218In retrospect, a great number of things
Expanding too fast meant spreading out the audience instead of growing at a healthy rate.
Stopping expansion right when their competitors passed them to focus on single event 3D debuts didn't boost any of the active livers by itself.
A general lax attitude towards brand promotion on the side of management basically left it in the hands of the livers, who organized tournaments and events themselves. Staff just helping to fulfill those events instead of having a unified vision.
Complete short sightedness when it comes to foreign expansion. Though they handled the China situation really well at least.
Several small profile scandals in early-mid 2020 that just compounded and hit a peak with the Meiro firing.
Nijisanji, especially the top female side never recovered and way too many ended up leaving.