It was never a "viable way of making a living" in the sense you describe. Who told you you can "release an app every 3-5 months and make 60k/year at least"?
For one, a proper apps takes a lot more time.
Second, no app is guaranteed to make anything at all.
Especially if it's coming from someone that hasn't made released any other iPhone app, doesn't know the market and doesn't know Objective-C! The App Store is like any other market: it takes effort, determination, hard work and/or luck.
And you devised all this plan (and even paid to start a company) without even testing the waters with a single app? Perhaps seeing something in the range of 2K a year for your first app (as many developers do, and most even less) would have spared you all this trouble.
Seems to me like you had this idea that the App Store was like a money printing service, where you just churn out some apps and roll in the dough, and in the first sign of trouble (and BS trouble at that, like the DUNS requirement) you demand the free money you were promised...