Coworking spaces with expensive buildups

Is anyone covering the “coworking beat” in a focused manner? Beyond WeWork, I’m seeing more and more spaces where there seems to be a lot of $$$ going into the design, buildup, and furniture. The model seems unsound to me, when will they fail? 🐦

A lot of them charge roughly the same or not that much more than bare bones spaces were charging ten years ago. They are usually larger and sometimes part of small groups, so there’s some economies of scale. They have more tools so perhaps more intensive use but still… 🐦