I think it might also be a case of a lack of funding via more traditional routes: even though 'niche material' has often been shown to be quite the money-maker

I think it might also be a case of a lack of funding via more traditional routes: even though 'niche material' has often been shown to be quite the money-maker it can still be quite hard to get funding for a 'niche' venture the traditional way (and even among the "new players", kickstarter doesn't allow 'niche' material).