Well there is another aspect to it: corruption. Sometimes companies are purposefully made to fail to lower their share costs and allow for insider trading or a cheaper buyout / merger. This would require some shady power that controls the majority of the industry through finance, but it's possible and has happened before in other industries. I don't know enough to talk about it much, I'm ignorant and I think it's just a theory.

I think some game studios believe they are too big to fail when working with giant IPs like Star Wars, Marvel or Doctor Who. And that's true (to an extent) because it takes time for an IP to be tainted by new renditions.