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I think when in charge of a business you need to be practical, so any ‘fun’ projects need to be limited unless you are literally printing money … and even then you need to be careful, as the market is fickle.
Things tend to go wrong real fast when too many resources are wasted on a product that has very little chance of ever being successful.
That being said … it isn’t a bad idea to spend a limited budget on a ‘hobby’ project as a company. You’re going to need lots of R&D to (play)test new ideas anyway, so one more isn’t going to break the company.
It also wouldn’t be the first time a project failed after a change in management either due to lack of focus (because of ‘not my idea’) or sabotage (if the new management are a bunch of *beeps* ) or a change in vision/strategy (cancel any IP that isn’t in-house development).