Tech I agree with your analysis 100%. Have you read my oeuvre on this topic? I encourage you to look into my oeuvre.
In fact I wouldn’t dignify selling assets by calling it a “business model”. It is a firesale. It’s the absense of a business model. What will they do when the money runs out?
I would add to your post that there is a lot more cuts they could make and assets they could sell. They still have around 20,000 employees in branches worldwide. If they are not publishing books and magazines any more, then what do they need so many employees for? For all their administration and video production, wouldn’t a couple of thousand suffice? So a lot more lay offs and branch sales may be in the pipeline. And KHs too. The only real question is will they manage it in an orderly fashion or will it be a disorderly crash?