Especially with print on demand being a viable option (wasn't even heard of in 2001 rpg market), a new company would be foolish to jump straight to traditional print runs and distribution
I remember back in 2000-2001, the only popular Print-On-Demand services at the time I heard of, were typically universities and textbook publishers. For the case of a university, it was typically binding a professor's course notes into a softcover book and being sold at the university's bookstore. In the case of textbook publishers, a professor could order several chapters from different books (from the same publisher) and have it bound into a custom softcover textbook for their course. Other than these two big cases, there wasn't much else which was easily available for print-on-demand type books.
I don't recall pdfs being very popular either at the time, for selling books of any type. The only places I found pdfs of rpg books in those days, were typically on those pirate file sharing networks (ie. Kazza, etc ...).
With the PDF and POD markets actually being viable for rpgs these days, it wouldn't be surprising to eventually see a 4E and/or PFRPG bloat in these particular markets. Hopefully the better stuff which show a viable sales track record in the PDF and/or POD markets, may eventually end up as printed books on the shelves of FLGS.
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