We will never know how it would have played out (and yeah, there were no small amounts of stupid things beforehand), but the actual collapse was induced by pouring gasoline on the burning platform.
What else could they have done? Their Symbian efforts failed on every front, and their software engineering seemed broken to the core (looking at it from an outside engineer who tried building apps for Symbian, but also as a device user). It was a company that understood hardware/firmware like no other, but the software part was not there - kind of like car producers and their infotainment systems nowadays.
