MoneyBadger doesn't send merchants anywhere. Most merchants don't even know that they're "accepting Bitcoin payments". Merchants' invoices are still settled in fiat, transparently. I pay in sats, they receive ZAR.

Don't know what MB's finances look like or what deals they have in place, but I can tell you they've been very responsive to criticisms of this kind, and there's a community keeping them honest. Not that they need much of that, since they're a bunch of maxis themselves.

See my other comment for the catalysing role they're playing.

If you have any materials or advice that would help, it would be most welcome. We're trying anything and everything to on-board as many people and businesses as we can. MoneyBadger is one of those approaches, and a very effective one.