I didn't see you applying that sort of logic when one-man-band outfits produced (say) web connection products for VFP. ;-)
I've carefully watched recent open source offerings that effectively were one or two people doing things in their spare time and eventually were bought by other bigger companies once the technology was proven. One example would be the Trixbox telephony system which was adopted for use by some quite big companies and was doing very well before being bought by Fonality. Trixbox was effectively a one-man-band that did not charge, but that did not hold it back even though telephony remains absolutely fundamental in mainstream business.
I'd agree that the market for this sort of compiler is difficult to foresee and questionable if targeted only for VFP, but that's not what the company has said. The EF (including EF4 IMHO) and sidelining of L2SQL has emphasized a great wallowing "data munging" hole in NET. If EtC can offer a solution whose managed code can be utilized alongside other managed code to manage data better, it's as much a winner as any of the other NET data products out there. I've suggested before that they may be wise to avoid the "VFP" label altogether to get rid of the stigma.
"... They ne'er cared for us
yet: suffer us to famish, and their store-houses
crammed with grain; make edicts for usury, to
support usurers; repeal daily any wholesome act
established against the rich, and provide more
piercing statutes daily, to chain up and restrain
the poor. If the wars eat us not up, they will; and
there's all the love they bear us."
-- Shakespeare: Coriolanus, Act 1, scene 1