That’s exactly what it seems like, I agree. It’s the only way to explain the huge list of seemingly simple improvements and feature requests that are ignored for years, the number of unkept promises and the regularity with which random things break with every update. Some of which were never a problem before or were even dealt with and fixed before.
In my doubtless ill-informed and certainly unsolicited opinion they should consider setting on a team of devs to work on their own recreating the game from scratch. Using a modern, off the shelf engine that scales and works cross-platform by design, and provides scope to grow and evolve without so much pain. The general look and basic mechanics of the platform don’t need to change, but it seems to me that a Zwift 2.0 would solve a lot of apparent problems now the company knows what they would need it to do.
But what we have works well enough for enough people right now, so there’s probably very little incentive to do anything about it.