You have to remember, during the 90's;

game owner = game dev.

they didnt do it for the money, they do it for their passion of making games.

Now days, game owners are full of CEOs, fats cats that think of profits all the time instead of making quality games.

Remember Bullfrog and their games? Theme Hospital, Dungeon Keeper etc
Maxis? simtower, sim ants, simcity etc.

After EA bought them, the studios are dead.