"I don't believe in this anymore" = shutting down something is exactly the right thing to do

The funding you get from VCs comes from Grandma's pension fund.

You think it's better to burn millions from the pensions of Grandma and her friends to sink into a losing business?

Just to keep a few of us engineers employed for another year before the inevitable failure?

Screw the engineers.

And let them look for better, non-dead-end jobs earlier.