Didn't Citadel/Brian Ansell collaborate with, and later aquire GW, back in the day, as a way to sell miniatures?
That's the way it went, as far as I've gathered from insider interviews, mostly Priestley and Ansell. There's also the nice book
Designers & Dragons by Shannon Applecline, a history of the RPG industry over 40 years, including a chapter on Citadel/GW.
Citadel was making miniatures. Brian Ansell brought Rick Priestley in to write game rules for those miniatures, in order to sell them. To sell them more as armies. They wrote "Roleplaying game" on the WHFB cover mostly because it sold - and because there was a strong connection with the style of WHFB gaming (referees) and roleplaying (game masters).
The first editions of Warhammer Fantasy included such races as Citadel made figures for. There wasn't much of a world, just generic Tolkien/Conan/Moorcock fantasy and battles. The success of the concept let GW create the world and combine figures design and world design in a manner that made some fans think they made the world and the game first, and only then made the miniatures.
GW was bought because it had an existing storefront in several cities. Years later GW was transformed into GW/Citadel shop only, and they stopped publishing & supporting & selling other games. This changed White Dwarf too. The first narrowing down of business perspective.
All of this is part of the good old 80's development. It was and wasn't considered bad and evil back then. It helped GW/Citadel to create Warhammer Fantasy and Warhammer 40K. Then the success of these (and their universes) put GW more and more on one track, to support its success. And once it was big enough, the owner(s) thought it nice to list on the stock market. Some might say that was the big chance, both within the company and for its market strategy regarding its fans.
But they started as a miniatures company, making miniatures rules to support their sales.
While I'm here, here's my 2d on the end of Warhammer/Old World:
My guess is that 8th ed Warhammer (7/2010) started as a genuine effort to make the game better and create a new series of balanced army books. They kept publishing those army books until Empire (4/2012).
Then there was an 8 month hiatus. I guess something happened then and there. The rest of the 8th ed army books and campaign supplements were published fast (9 books between 2/2013 and 5/2014), but were then followed by the increasingly sloppily written End Times books. From 2015 the End Times books started to include rules or rulings that started to visibly erode the game. At that time it was clear that support for both the game and the Old World as we knew them would change. For the company, the choice probably was clear around summer/fall 2012.
-Z