[ckdarby]

I get where this comment is coming from, but isn't it much more complicated?

They're cashflow breakeven and could run net income negative over the next five years as a subscription market grab with the capex amortization over the 5 years.

It is possible they could become incredibly profitable when the capex investment in 5 years is much less than the initial capex.

Equipment costed $5 or $1/yr. Replacement equipment could cost $2.50 or $0.50/yr.

I see this plenty with business capex for on-prem/datacenters. What costed $5M over 5 years on a refresh replacement for 1:1 replacement is usually more than half the cost.