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You ever wondered why we still have a lot of visual novels without translations? Based on talks with people in the industry, watching the community, and analysis, here are 7 reasons why we don't have MORE VN translations:

Not a bad summary, but you left out a massive reason they're not very profitable - piracy. People feel a sense of entitlement to porn, and also a degree of guilt with buying porn, so they pirate it instead. It's estimated there are 10x as many pirated copies of eroge compared to the number of units sold. Add a section of the community that is toxic and encourages piracy or discourages purchasing because they have some personal beef, and you've got a clusterfuck right there. Whilst pirating is rife in all media areas, eroge seems particularly bad, which makes it much worse when the profit margins are so slim now. VN translation is not a good business model, and virtually all the Western localisers do it because they're passionate about the medium, and most of the staff accept relatively poor pay for the same reason.