People BELIEVE this? Wow...
Frontier exist to make MONEY. Elite...isn't doing very well at that any more..
It is a bit shallow dive.
Yes, Frontier is an business. It's goal isn't however just to make money. If it would be, they would be in freemium games market. With their army of animators and artists they would make a killing.
In lot of cases passion for specific project drives business and that business gives back something (not all, not everything) to that specific passion project. For all companies there are such projects, and for FD it is Elite. It is their PR bull, it is their magnum opus. And they won't cut lose ED just because it might not bring in amount of cash let's say SP games Planet Coaster and JWE eventually will do.
However surprise, ED is doing really, really well. FD seem to have realized that cosmetics - if done right, marketed right and at right price tag - can partially sustain project on their own. That's why you see more discounts on game, that's why they cut cosmetics pricing year ago. That's how business goes with passion projects - they figure out how to keep them going.
So yes, FD is there to make money, but that money isn't just for David and other officers and shareholders to go home with. That money flows back into development, adding new things to add new life to ED. ED essentially is that loathed platform people seem to hate on these days. But huge game like this wouldn't come into life otherwise.
So basically they keep adding to ED and they will keep adding and improving ED because it will bring in sales and it will bring back players - and thus keep project and game alive.