The bankrupt faction King Rust says would still be solvent if the old-style dungeon gates had been kept active.
Explaining why The AI cannot reach the Monitor Station, King Rust complains about a decision the Syndicate made long ago. The AI controls the tunnel gate only because that controller must sit in orbit of the game planet, whereas the old-style gates could never be controlled by an AI at all. They should have kept the old gates active, Rust says — and if they had, the mudskippers would never have gone bankrupt.
Carl admits he does not understand all of what the orc says, only the important part: the station is out of reach and nobody is going to stop Princess Formidable from the inside.
Bankrupt faction cited by Rust as collateral damage of retiring the old, AI-proof gates.
Also appears in books you've already read — spoiler-safe to their endings: