Most of the successful startups are based on a pure, authentic vision of a founder who is absolutely convinced about their vision for the future. Unfortunately, this element doesn't exist in a studio environment, and the artificial placement of a "CEO" won't do this magic especially in the early stages. More often than not, this is an essential organic process because all of the other subcomponents such as product, hiring, culture etc. are determined by the CEO who is motivated by something other than metrics.
Secondly, if a studio plans to work on something more complex than a tiktok for dogs kind of app, a certain level of domain expertise needs to be present. This goes back to the founder-CEO problem where the founding team has already established some curiosity and knowledge in the domain.
Nonetheless, the article misses to pinpoint some very imperative limitations of the studio concept, I have outlined just few from my own experience.