Terrible management, and the people in charge probably never lost a dime personally for their poor decision making. No reason a company making a product like the instant pot can't stay in business as long as people want the product. After the initial release when everyone wants one, it should reach a steady state where sales reflect the number of instant pots going out of commission due to damage, wear and tear, etc, and the growing population. Plenty of businesses like that exist and do just fine, like selling toilet paper.