The standard process for many decades now is that a company caught committing crimes pays a certain amount of money (nowhere near enough to threaten its existence in any way), and then can continue operating essentially as before.
Same as Theranos. It was fraud.
It is a massive mistake to conflate stuff regular companies do which may be illegal or distasteful, with companies that are entirely fraudulent.
How is that different from what Theranos did? Theranos fraudulently claimed their blood test was capable of quantifying various factors. It wasn't. Volkswagen fraudulently claimed their cars were capable of meeting emissions standards. They weren't.
Yet Volkswagen is still allowed to operate, even though their business ran on fraud for a long time.
VW has other products than their diesel cars. Theranos had nothing but the non-functioning diagnostic.
This isn't true. Read The Smartest Guys in the Room. Enron started out as a real company and slowly became increasingly fraudulent with time.