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GoPro is in serious financial trouble. Action camera giant is at risk for potential bankruptcy
(www.digitalcameraworld.com)
This is a most excellent place for technology news and articles.
Frankly, that second idea seems really consistent with whatever residual brand value they have.
Unfortunately, they got burned by doing it poorly around 2017 and seem to have been scared off of playing in that space ever.
The first is probably already done but maybe not enough to keep the niche afloat. If the GoPro's need replacement, then they won't have a reputation for durability. If they keep going, then why replace your old one when it already does 4k 60fps? Problem is either they need replacement and erode brand strength, or are durable and can't compete with already owned product. That path probably most likely ends with selling themselves to some other company that will probably slap the name on random Chinese cameras.