I don't think they ever could have made it no matter how much money they put into it. The answer is very simple: times change.
Just a couple of years ago, A.D.Makepeace, the biggest owner of cranberry bogs in the region (thousands of acres) decided that competing with the modern Michigan and Wisconsin bogs was just about impossible and, at the same time, the price they were getting for the cranberries had "gone through the floor". In other words, Makepeace could no longer afford to grow cranberries. The firm is now proceeding to sell off a huge amount of the property to developers. Also, property values in eastern Massachusetts have gone through the roof, so they will do very well.
The Atwood property is probably a smaller scale version of the same thing. With dwindling crowds of young families that find more thrills in "Fear Factor" and skate boards, Edaville became just a quaint, nostalgic experience just for the holidays. This, plus rising costs of operation, the lower cranberry income, and the siren lure of developers was just too much. Time and economics finally caught up with Edaville. Too bad, but it was inevitable.