>If you become successful, you can hire enough developers to pay back the depth in due time.
How many successful companies actually do this?
At one point in my career I transitioned from a startup to one that had been acquired some 12 years before, and found it to be even more chaotic than the startup. Instead of playing a frantic game of whack-a-mole with all the pivots and feature ideas of the founders, you had a few dozen teams playing whack-a-mole with the pet projects of their respective product managers who were trying to make a name for themselves. Which was much worse because you had to coordinate with every other of those teams, and of course work with all the integrations with the parent company.
Charitably speaking, maybe these older successful companies are bad simply because the field of software engineering was still too immature when they came about, and today's startups will actually pay back their debt when they become successful in the future. Sure, we have better tools now than then, but we still don't have a static analysis tool that can determine if we built the right or wrong thing for an ever changing market.