I was aware of this before fanatics took over, both at the company level and at the distribution (Peach State, GTS, Southern Hobby). Back in the day it was about $10k got you direct.
But the underlying problem isn’t Topps, or the employees, it’s the business of modern wax. When it’s hot - you can make money but it’s hard to get. When it’s ice cold (bad RC class, downturn) you can get it but can’t make money.
Sure, a handful of breakers and shops will build a good business in that environment but chances are it won’t be you. So as a businessman you have to adapt.
I’ve been to all these conferences (Topps, Industry Summit, etc), I’ve had a shop, I’ve had allocation, it’s really hard work and you don’t make that much money. If it’s not about the money, then you let the Tom Brady’s and big breakers do their thing and you carve out a niche. If it’s about getting rich, get the hell out of cards and focus on stuff that is way bigger. Video games, board games, toys, Legos, books, crafts. Flipping tickets, car parts, tools, something else.
At the end of the day, owning a shop is not special, not very valuable, and you get paid accordingly. I learned this when I was 23 - unfortunate many of these guys are 40 but never too late to pivot.