Apollo can be thought of as garbage disposal for tech companies.
They provide enough capital for a corporation to keep running while systematically stripping it down until only the most profitable core remains, then re-IPO'ing that husk of the company. Along the way, they make the most use of financialization to extract as much benefits as they can.
They serve a purpose in the ecosystem I guess. Its better than the company devolving into irrelevance or collapsing at once. Graceful termination means that everyone can wait for a ferry to take them away rather than jump ship.
How long has it been since an acquisition of either one of those companies made the acquirer any money? More than a decade?