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Wtf is this? You can still buy them and other instant pot products on Amazon. Not to mention they still sell well. I have had mine and use it almost daily for 5 years and the seals are still good. Easy to clean, easy to use.
I guess the hypercapitalist definition of failed is that people bought them, and then sales & revenue dropped. Like it would happen with a quality product.
Once everyone had their instant pots that are really reliable and rarely break, instant had to come up with something else to sell and make money. In the pursuit of that, they made a lot of bad choices, including taking on debt, and didn’t find the same success they had with instant pot.