The biggest reason why we don’t see support and services companies achieving hyper-growth is that they are uninvestable. Annual revenues are low and nonrecurring, and margins are tight. VCs are looking for 80%+ gross margins and hockey stick growth.
In other words, Red Hat's model doesn't work for Wall St and VCs looking to make quick easy money riding out the next tech 'unicorn'. Red Hat has survived and thrived for 30 years now, while most modern VC backed tech companies are lucky to make it past 3. The infiltration of Silicon Valley VC vultures was one of the worst things to happen to the tech industry and why we rarely see sustainable startups like Red Hat anymore.