It’s simply impossible to make money selling to developers (in almost all scenarios)
And the "all you can eat" toolbox license is just a staggeringly good deal, IMHO, which also comes with a "you can keep your license forever, just no updates" which is way different from setting subscription-based licensing money on fire when your license expires. Whoever came up with that should be applauded because it really drives down my "what about" anxiety of paying subscription money for IDEs
That's the main difference, as they had lower margins compared to Hashicorp which traditionally had most of their enfineeeing in the US.
Hashicorp has started pivoting hiring to Bulgaria, Poland, and India now for that reason.
Devtools are about developer efficiency etc.