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GoPro has been squandering their lead for like 15 years.

I feel like I heard this same rumor a decade+ ago.

Not a rumor when announced on a public market, but it's not the first time they've been perceived as a precarious has-been.

They've been a has-been for the last 5 years at least. They didn't go under, but still lost the title and tons of market share to DJI and 360

They can be a precarious has-been without being actually bankrupt.