If you build for a single target, $150 or $299 (for iOS) might not seem like much, but when compared with platform specific tools that are FREE, it is expensive.
FREE tools not only have a larger market share, but also have far more training resources, available source code, larger user base, more documentation,.
Xojo doesn’t hire platform specific engineers, so Xojo made apps don’t compete with platform vendors tools. Xojo made apps lack basic functionality from 24 years ago, they use non-native controls which are becoming more and more obvious. A Xojo made application can be > 7x the file size, and they’re limited in their capability. You can’t make a macOS screensaver in Xojo, nor can you make a single file command line tool.
X-plat is the same scenario, just multiplied by the number of targets.
Xojo’s cross platform model goes against the current trend of other tools, which is to design one UI for all platforms. With Xojo you need separate projects, one for desktop, one for iOS, one for Android, one for Web and one for console. Xojo’s x-plat design also makes it hard, maybe impossible for them to reach new targets in a reasonable time frame.
I have seen some of the data, and even then I can’t guess how long, but it is clear that every year Xojo sales decline. I have been told by other 3rd party vendors that 2023 was the worst year in over a decade.
Every 3rd party vendor has a “life after Xojo” plan, some have been working towards their plan for a while, some are only just starting.