It's PR to cover management failure due to "me too", which reached ridiculous levels in the last 5 years.
Take block:
AFAICT, it was just really badly managed. A long time ago it got about as much share of its main market as it was going to get. They took the cash flow from that and hired a bunch more engineers to try to break into adjacent markets, and failed, and failed and failed.
Now they are just retreating to the steady income from their core business