Just before Netscape was purchased they open-sourced their browser, and the Mozilla organization formed to continue the open-source Netscape codebase as the Mozilla Suite. So, basically yeah, the actual Netscape code became Mozilla and the Netscape legal entity just became a Yahoo subsidiary that they did fuck all with
Data harvesting is a lucrative business. You don’t need to have a good product with todays internet, you just need to have access to a lot of insanely personal data, and yahoo has both an expansive advertising network and hosts hundreds of millions of email accounts. They're just Google except they don't pretend to care about anything else
They can keep shuffling along, though. If you don't have to pay for active development of features, maintenance of their existing product lines is relatively cheap.
you missed the bit about aol buying netscape in 1998.
netscape continued but under aol's structure. aol disbanded the netscape group in 2003, which is when mozilla foundation launched and took over development.
aol continued to release netscape on its own until v9 in early 2008. last two versions were based on mozilla's new firefox, not the legacy browser suite.
yahoo got mixed in when verizon bought aol in 2015 and most of yahoo in 2016, and combined them. later sold verizon media (the aol/yahoo combination, fka oath, nka yahoo) to vultures (apollo) in 2021. apparently the netscape trademark remains with the remnants of aol.