What choice do they have? The company was hovering around profitable (2021 would’ve been without a lawsuit settlement) but that was before they were saddled with a ton of new debt. It’s possible that they could find new revenue models - that pay for checkmark scheme isn’t it but maybe a smart businessman could come up with a better variant - but that takes time and has to be done carefully since they have to keep the lights on in the middle. Driving away advertisers before finding that new revenue source doesn’t leave much time to iterate.