iBuying companies like Open, can they survive?

I know we’ve all been hearing the negativity about iBuying companies like OPEN unloading houses for losses.
I’m wondering if there’s any scenario where a company like Open can survive and avoid bankruptcy? Or is the business model itself the problem and can never achieve profitability?

I don’t have much of a background in real estate companies so if anyone with experience can share some insights it would be appreciated.

There are lots of bad signs, insiders have been cashing out at low prices and their cash position was reduced significantly QoQ (2.47b to 1.5b).

If they could somehow survive, there would be some big returns buying at these low prices. Any thoughts?