Yup - For the greater part it's an old boy's club plain and simple - get in with them and you're laughing. Look at the number of near useless, profitless companies that start and fold over and over, it's like musical chairs but the same faces keep getting the seat.
In a related example, I know one small company that has been making games for more than 6 years and has not released one single game yet it has started 3 projects!! Can you believe it? Some sly scam going on there for sure.
In a related example, I know one small company that has been making games for more than 6 years and has not released one single game yet it has started 3 projects!! Can you believe it? Some sly scam going on there for sure.