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Clearly the studio's financial struggles far outweighs the revenue generated from Hi-Fi Rush, otherwise Microsoft wouldn't be shutting them down for no reason.
People also seem to think that the closure of Tango means that Hi-Fi Rush has also been killed - it isn't.
Microsoft still owns the IP to Hi-Fi Rush and if they're a profit-driven company (which they are), it's in their best interest to focus on successful IPs.
It wouldn't be the first time other studios take over popular games and make successful sequels; case in point with Fallout and Baldur's Gate franchise