I think they’ve been caught in a bad spot. They’re a profitable company, but nowhere on the scale of Microsoft. And they don’t have billions of VC to effectively price dump. Other tools that can focus on one thing and burn cash are advancing quickly and some of them don’t really need an IDE at all.
The semi-recent introduction of ACP integration in the JetBrains IDEs has been a nice bridge. But now it’s confusing how everything comes together. I really hope they can survive.