There is a complete lack of logic in the conclusions under the "How the next year will play out" header. We are going into a global recession and another "premium" video streaming service is not what the market is asking for. I feel bad for anyone who invested in this, but that feeling is somewhat limited considering what an extremely basic sales pitch they must've got sold on.
Author here! The entire piece contains the logic that supports the conclusion at the end. You're right that the recession will hurt them, but on balance, I think in the long run the premium short-form video format will be here to stay.
So is espresso, that doesn't mean a new café taking on Starbucks is going to succeed.