[tryitnow]

I agree, but I think you may be overly optimistic about the viability of bootstrapping indefinitely.

If you're sustainably harvesting profits from your niche then eventually that's going to attract other firms, some of whom are going to be big fish that can dump a lot of marketing and sales spend, take your customers and acquire the sustainable profits you've been harvesting.

There are exceptions for when people have really strong "moats", but defensible moats are a lot harder to come by than people realize.