Maybe her cult of personality is the only thing holding the company together. Or she's prioritizing herself over the company.
She controls the board, so no-one can make her resign. That's how she's managed to stay -- as for why, honestly not sure, I guess her reputation is destroyed if she leaves now, at least if she stays there's a non-zero chance that their tech can be made to work legitimately in a way that improves her credibility.