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It will survive for some time...as a whaling app.
F2P in 6-12 months is my guess.
Just look at Fallout 76, it crashed and burned but still is Pay to Play + it has an entire p2w subscription to add on top of that. Yet its still apparently going pretty well and you can't buy it for much cheaper than full price.
Its just a video game, who effing cares...
I also don't know what book you're doing your research from, but I don't remember a game that had millions invested in it failing hard.