I've noticed furry and fringe sexual deviancy stuff gets funded/trusted no matter what, for absurd amounts of money. Those games are the only ones (other than LT) that let you fully customize yourself and run around with cat ears, a horse body, and three 3ft long prehensile penises. Guess furries and sexual deviants have a lot of expendable income? At least with Fenoxo's stuff, they do pump out content at a very steady clip, so not like it's a total scam.
Could they do more with the money, considering it's a text game and I doubt it costs a fraction of what they earn to employ writers and commission art? Yes, of course. I'm fairly certain Fen and the rest of the team are just sitting around rolling in their money 99% of the time, and working on the game the other 1%. I'm also certain that most of the incoming funds are used to pay themselves excessive salaries, rather than putting it back into the game.
That said, I've never given them a cent, so ¯\_(ツ)_/¯