I agree with all of the above, but unfortunately no matter how good the intention and clarity of market ("high quality software targeted at a specific group of

I agree with all of the above, but unfortunately no matter how good the intention and clarity of market ("high quality software targeted at a specific group of users"), if that user group is not willing to pay, then you are doing a bad job of solving their problems. We can lament how sad this news is - and it is - but it does expose that, at some level, the company was not able/willing to meet the needs of their (potential) customers.