No surprise.
Few customers + small planes = high ticket prices
high ticket prices = even fewer customers = vicious cycle.

That is a lot of staff for a few aircraft. Though the Cardiff and Anglesey routes seem unnecessary. If they had a hub at Prestwick it could have cut costs depending on landing fees. Shame for the outlying islands though. Maybe the Scottish government will run their own nationalised version, from the remains?

only if subsidised and financed from 'England' and its taxpayers ...

Yes it will need a subsidy but I think that maybe contracts with the house of commons to take MPs back from Westminster could help financially especially if they want to travel first class. Even if it is slightly more it does provide a service for the highlands.