LabVIEW never has been a money maker for NI directly. They were able to develop LabVIEW because of what they earned with their hardware sales. And LabVIEW was used to drive those hardware sales. A very successful model that drove others like HP Vee and such out of the market in the not very long term. Maybe HP/Agilent also was simply already to big for that market segment that they could possibly target with a product like this. The entire T&M component market isn't that huge. For HP it was what they had been starting with, but the big money was earned (and sometimes biggly lost) already in other areas. T&M was good for a steady revenue, but nothing that would stand out on the yearly shareholders report. It was unsexy for non-technicals and rather boring. That was one of the big reasons to separate HP into multiple companies. An attempt to create smaller entities that target a specific market segment and could be fine tuned in the sales and marketing efforts to the needs of that market.
About 10 years ago NI reached the size where they started to feel the limitations of the T&M component market themselves. There simply was not a big enough market left that they could capture, to continue their standard double digits yearly sales grow for much longer. Some analysts were hired to look into this and their recommendations were pretty clear. Don't try to be the wholesale everything for all little parts manufacturer in T&M, but concentrate on specific areas where big corporations with huge production lines invest their test and measurement money. Their choice fell on semiconductor testing and more recently the EV market. It has a huge potential and rather than selling ten-thousends of DAQ boxes to hundreds of integrators, they now sell and deliver hundreds of fully assembled turnkey testers to those corporate users and earn with each of them more than they could ever earn with several 1000 DAQ boxes.
What used to be NI's core business is nowadays a side line, at best a means to deliver some parts for those testers. But more and more a burden that costs a lot of money in comparison to the revenue it could even under ideal conditions generate.
If you can understand this you also can guess where NI is heading. They won't die and their shares will likely not falter. But what they will be has little to do with what they used to be. If LabVIEW still has a place in this I do not know. Personally I think it would be better if it was under the parapluie of a completely separate entity than the new NI but I also have my doubts that that would have long term surviving chances. Earning enough money with a development environments itself is a feat that almost nobody has successfully managed for a longer period. But the sometimes heard request to Open Source LabVIEW has also not a lot of chances. It would likely cause a few people to take a peek at it and then quickly loose interest, since its code base is simply to complex. And there is also the problem that the current LabVIEW source code never could be open sourced as is. There are so many patent encumbered parts in it and 3rd party license dependencies, that nobody would be legally allowed to distribute even a single build of it without first hiring an entire law firm to settle those issues. While NI owns the rights for them or acquired a license to use them, many of these licenses do not give NI the right to simply let others use them as they wish. So open sourcing LabVIEW would be a fairly big investment in time and effort before it could be done. And who is willing to foot that bill?