There is probably a bit of both going on in the world. In this particular case though, the article describes how Redfin took rather long to react on many accounts, and what it meant for their company and employees.
You could make a case that if they did not react, did not take the money or fire people, they would have weathered the storm and would be better off now. True, but it's easy to make those conclusions after the fact.
It was interesting to read all 3 parts of this essay and follow the timeline, for what it's worth.
