It was missing a bunch of features last time I tried it - no crossfades, no automatic playlists (for things like liked songs, decades, etc), no artist radio (play an artist plus similar artists), no way to play sonically similar songs (based on server-side analysis), no loudness leveling, no Android Auto. Maybe it's improved now - I'll have to give it another shot.
Unfortunately I'm not sure I know enough about audio processing and similarity analysis to be able to implement those features myself.
Even if the report is inaccurate, Backblaze has never been profitable, which isn't great. Investors want to see a return on their investment. They'll keep pushing Backblaze to become profitable, likely eventually resulting in enshittification of some sort. We'll see if things have changed when they publish their Q1 2025 results on May 7.
One of the harsh realities in Silicon Valley is there's a lot of companies that produce great products but end up failing after going public, either because they couldn't find a good product market fit, or because they couldn't figure out how to make their idea profitable.