I have some theories of how this company turned so awful. It all comes down to two things, in my estimation: Greed and mismanagement.
Your preorder money does not go towards development or fulfillment of the item you ordered, it goes towards paying off the companies debt and licensing fees, which I estimate are considerably massive. That being the case, they are left with little to no funds to pay for development, manufacturing and shipments of the product (which is the real reason people are waiting literal years for items).
The company is caught in an irreversible loop, having dug their debt hole too deep to recover.
They need preorder money to pay debt and never gain enough capital to actually manufacture and deliver the goods.
Basically they are on life support.
With the revelation of this lawsuit, which was a long time coming, I think the life support will be terminated and Anovos will die in substantial debt and possibly more legal trouble.