As three views, marginal.Would they have needed to put more in? At the views and subs they were getting, surely they were making profits, at least if you write off the sunk cost of the models. I assume it had to be some kind of Japanese intellectual property autism with OVERDRIVE shutting down, because I can't see any other reason to cut off a project that's working.
Their growth probability with the business model as it was, also marginal.
Sure, Mangagamer could've entered the vtubing business on a large scale to establish a brand and mingle with the big players, but we all know how that usually goes. There has been literally one successful case of a company attaching vtubing as an additional branch to its business model. Everyone else failed.
The other option was to shut down the project as marginal and let the twins go for a company with enough brand power to get a hundred thousand eyes on them at debut.
Which is what they did.
Branding matters. The greatest entertainment talent in the world will amount to nothing if it keeps serving in commercials as brand ambassador for a shaving cream manufacturer. That's not a reason for the shaving cream manufacturer to suddenly invest in a studio and start putting out sitcoms. It's a reason for the talent to switch companies.
Mangagamer didn't throw away gold. Mangagamer recognised that it wasn't positioned to take advantage of it and that trying to do so would almost certainly fail. In this, they were certainly far brighter than, say, Sony.
Instead, they let the talents pursue their dream elsewhere.
They are to be commended, not scorned.