While doing some checking, here's some things I found:

W4 games (accused in the post of not using $8M seed fund for Godot), does actually give money to Godot: https://fund.godotengine.org/ (they have an icon as "Platinum Sponsor"). Doesn't say how much though.

The income from donations is around ~23k EUR (including everyone, not just W4)

Godot expenses are around $40,000 monthly to pay contractors. (https://godotengine.org/article/funding-breakdown-and-hiring...)

That would make them cash flow negative. But it's not true that the $8M is being kept entirely to W4 and not being used for Godot.