You have this semi-backwards. The VC isn’t really a leech because Plex pitches the venture fund with a well developed enshittification plan already in place. Assuming everyone is acting in good faith (i.e. the VC doesn’t just want to just shut it down and sell Plex for parts), Plex’s (enshittification) plan is the reason it makes sense for the venture fund to invest in the first place. Plex promises their plan is why the VC will make an outsized return on their investment and it is what the VC validates as part of their pre-investment due diligence. But that plan is created (and sometimes even put into operation) before any VC investment occurs.