I love Larian and am ride or die with Swen et al. Have been ever since Divine Divinity was "we have Diablo at home" but ended up being a shockingly good (for its time) hybrid ARPG/CRPG.

But Larian are very much not the example of "how to do business". Like Digital Extremes, they are a "legacy" studio that is INCREDIBLY lucky to have survived. Larian themselves had to deal with really shitty publisher deals (Beyond Divinity and I think also Divinity 2?) and games so bad it almost killed the studio (even Mortismal himself will acknowledge that Divinity 2 was a trash fire before the DLC... and was still a mess after). It was mostly "lucking out" and embracing Kickstarter before everyone hated it that saved them. And... Dragon Commander still got close.

And you know what has REALLY made them stable? That's right. A deal with a major company to work on one of the most famous IPs in gaming (tabletop and video) history.

Larian are smart to try to maintain their size and not overly grow. But, like countless game devs have said and gotten shouted down for, they are far from "typical" and got REALLY lucky. Hell, Swen himself has mentioned the same in between the blurbs that outlets love to reference.