Imagine if you had 3 employees and 2 of them were HR. That is not a good allocation of labor.
It does seem odd that so much of the work would go towards paying to keep looking for more money (fundraising for fundraising), but there are plenty of sales oriented organisations out there who don't make anything. It's just odd in this case that an OSS project seems to have gone on that direction.
I suspect nobody should be earning such a salary working on a project like that.
I sort of get the idea of spending your money trying to sale an existing product but it doesn't seem to have worked in this case. That doesn't mean allocating the money differently would have worked either (arguably it would have been better for current patrons though).