mpv exists so if vlc dies there's just another reason to use linux.

Also dude has been approached and offered millions just for ad placement. I don't think he'll sell even if he's dying or homeless. It's a Terry Davis level of software development dedication at this point.

videolan itself is a nonprofit, formed around the time of the 1.0 release of vlc.

I think if it was bought it would be simply discontinued to force people to use their existing media player.

Also despite what people on tech forums think, probably 95% of people don't even know what VLC or 7zip are and have never even heard of it. Of that 5% that have heard of it, maybe half use it.