I'm happy it worked out for you, and maybe the 90s was a different time. But now, to go for the same deal would be foolish. And come to think of it, people were raising hell about it in games, even in the late 90s.
I'd say this practice today needs to die out. I'm sure 80% of companies with a temporary cash crunch (but a legitimate business model) can get bank credit to cover salaries. It's not even a big hassle - the business banking app usually approves the line of credit automatically in a few seconds, anyways. Depending on the regular cashflow, it can be up to small five figures - enough to pay a month or two of salaries. If they don't want to pay, that's a different matter.