This is the norm. The gaming industry glaringly works that way since it came into existence. There are a lot of privately owned companies creating awesome stuff

This is the norm. The gaming industry glaringly works that way since it came into existence. There are a lot of privately owned companies creating awesome stuff that stay awesome until/if they decide to IPO or sellout to a public company. Public company owners mostly have terrible incentives and time preference which makes everything turn to shit.