The answer is pretty straightforward.
Being the lead producers of a Broadway show is cool. You get to show up whenever you want and be treated like a prince.
If you have enough money, it is cooler than buying a bigger house in the Hamptons.
The lead producers of OTT sold their Park Ave penthouse this year for over $20 million, more than twice what they paid for it less than 8 years before. If this is how they have fun, and the landlord doesn't want to theatre back, they can continue to do this until they find something else to amuse themselves.
The cost of underwriting a flop on Broadway pales in comparison to that sweet waterfront property in the Hamptons, or a swanky private jet.