Anyone perpetuating this idea has absolutely ZERO business sense. The $20 million investment (which, by the way, is not lump sum. Its a $2m/yr investment over 10 years) , is not "free money. "
People don't just pay $20m unless there's a reasonable likelihood of positive return on investment. Blizzard is spending $millions on continued game development, OWL marketing, etc etc etc. And the investors and blizzard are both expecting long term profit. Merch, game sales, ad revenue etc.
Its still the inaugural season, and from all accounts the league has exceeded expectations. People still act like blizzard is just buying beach houses and jets with these $20m investments, that's not how it works