Because their product is actually two things: (1) a UI/app & (2) a highly curated data model.

My imagined future... they just stop building (1), or invest much less in it, and focus on (2).

If they can build a compelling data foundation (ingest / processing / storage / exposing) + do much less work to still cover 80% of UI functionality + offload the remaining 20% of work onto customers, that looks defensible financially and strategically.

There's a ton of feature requests that are driven by a few customers. Aka the "You're using it wrong. We don't care, we want it to do X" cases

There are very few VP+'s out there that would take on strategic data integrity risk in exchange for anything, and as new SaaS code quality likely goes down (lets be honest) the imprimatur of a "known name" on the data side becomes more important.