>>26765689This. For ID it was just bad timing and not hitting the EN fanbase right. For KR literal black company and Koreans are apathetic towards vtubers essentially the same issue IN had except IN wasn't a Black Company they just had no momentum. It was pretty much just Any Color throwing darts at a board and trying to scatter shot until they found something that worked.
Keep in mind the state of vtubing at the time there wasn't really a huge expectation for success it was more like. Here is a model and we will promote you and maybe you will reach 100k subs in 2-3 years. Before Myth 500k+ subs was considered top tier(it still is) and 1 million was only for the true top tier vtubers.
Say what you want about Any Color but they have atleast tried to remedy this by bringing ID and KR under the JP branch.
tl;dr Over acceleration and looking in the wrong places.