The reality was that a big chunk of their initial audience came from Laravel, and as other players emerged and made what was Tailwind UI irrelevant it all seemed to compound into them panicking and making some rather silly business decisions. At one point they had a sizeable team and shipped nothing for a good 8 months, and when they did it was a couple of beautiful but completely impractical landing pages. They just didn't convert it to a sustainable business.

Oh and to add to it, they alienated their paying customers by dropping support for basic js based components in favour of making the entire ui library reliant on heavy js libraries, killing off any interest from most of the Laravel customers who'd been their initial target audience.