Sure, we can quibble. If they are intending on paying competitive bay area salaries they'll be paying much more. Or maybe they can build the bulk of their engineering team in Warsaw or whatever and pay less.

I picked a number on the lower side to be generous. Whether this pays for one developer, half a developer, or a quarter of a developer doesn't fundamentally change the big problem: you need a lot of users to cover even a small team and the total addressable market here is small.