Except for the fact that it isn't. I'm not a Joe Rogan fan, nor do I listen to his podcasts but I do know that he has the biggest podcast audience in the country. Well, either him or Adam Corolla, I'm not sure.
Regardless, if Spotify dumped him tomorrow he would land on his feet. People don't watch Rogan because he's on Spotify, they watch Rogan because they like his show. If he just up and went to Rumble tomorrow he wouldn't lose a single fan. And Spotify would be the ones who got hurt, not Rogan.