Apologies, I don’t think that I managed to make my point particularly clearly.
No business has an automatic right to survive just because it still has some customers.
Some businesses provide something unique of a quality, nature and character that is not replicated elsewhere, and are popular, valued and well frequented. In the same way, some private schools provide something that is special and those schools remain - even in times of economic difficulty - because they continue to provide something worth paying the very high cost for.
Other businesses either provide something extremely niche or, more often, something that is not sufficiently different, high quality or distinctive for customers to feel the high cost is worthwhile. They look around at alternatives - cheaper or more expensive- and decide to take their custom elsewhere. In the same way, small and half empty private schools do not survive economic shocks.
I went to school in a town that used to have 1 boys’ private school and 5 girls’, plus any number of preps. It now has 1 mixed and 1 girls’ school, and I think 1 or 2 remaining preps. Does this represent ‘harm to children’? Children being expendable? No, just a change in educational landscape that meant only the best 2 schools - best results, best experience - survived.