A commercial product that has seen almost no green field development in ages. The only way to make it long-term sustainable is to reduce the barriers to new development.
One thing they could do is to offer it in cloud instances. Let more people play with it, see its strengths compared to Linux, and let it win share on its merits.
The optics of this aren't great - it looks like they aren't fond on people learning its characteristics.
I can't imagine there is much new development. I knew companies using VMS in the casino gaming/lottery industry. They moved on to other platforms, like AIX and Linux, decades ago.
One thing they could do is to offer it in cloud instances. Let more people play with it, see its strengths compared to Linux, and let it win share on its merits.
The optics of this aren't great - it looks like they aren't fond on people learning its characteristics.