They will go out of business if they can’t draw crowds, pay big money for wrestlers and get low tv ratings (lower ad revenue). They still don’t have a new TV deal either. The last thing wrestling fans should want is AEW going out of business but Tony has them on a bad path right now.
Tony is under a lot of pressure to get much more money from the next TV deal as explained here
https://slamwrestling.net/index.php/2023/12/12/aew-estimated-to-lose-34-million-in-2023/
Without it, they’ll never be profitable.