As a thought experiment, let's say there are 1000 people who get annoyed when a software product they use takes VC funding. For those 1000 people to sustain a software product with a team of 5 for 10 years at 150k average per head. you'd need 7.5MM dollars just to break even. That's $7,500 per user, or $750 per year. I doubt many people would be willing to pay that just to have a product that never takes VC funding.
And note that's just to cover labor costs. If you want it audited, that's a solid 25k per audit. Operating costs for website and infrastructure, etc. Now if the product was exceptional and beat out other products in the space and generally had a slice of the pie, the number of users would increase and per user cost would decrease. But also doing as much with a team of 5 is no small feat.
