The firm does not have 100 million in profit at FY end. Revenue and profit are not the same. Prior to the pandemic, the firm (and any business) has significant expenses, debts, and operating costs. Payroll expense is typically a business's greatest expense. The pandemic introduced economic and business risk. I'll quote, the Paycheck Protection Program is "An SBA-backed loan that helps businesses keep their workforce employed during the COVID-19 crisis." This is what it what used for. Using a program as it was intended is not immoral, IMO. Was their fraud with PPP nationwide? Sure there was. If it is your MO to apply that narrative to whatever businesses you want, so be it. I wouldn't say it is immoral or "shitty" for any qualifying business to apply for a PPP loan in support of retaining its employees and make sure their financial wellbeing is intact.

You can point to our revenue growth in 2021, but that doesn't change the fact that in 2020, business leaders across the country were facing huge economic uncertainty about the future. It was take the loan or lay people off. To your point about "but in their defense it is what almost everyone else did too": almost everyone else was facing the exact same uncertainty and decisions about retaining or release staff. This is what PPP was for at that specific time, not in hindsight.