No Limit & Cash Money had a similar business model leading up and through 1998. It was always about using one album to promote another album to then promote another album to promote another album. They knew how to flood the market and manipulate the numbers of the sales as they focused a lot of their energy on the mom and pop record stores. It was never about quality for either of them. The covers would promote the albums and then those albums would promote the movies and the movies would promote the music and it's a never ending cycle. The other key was that they exploited both Priority & Universal by getting a ton of money while paying their engineers, in-house producers, and others next to no money. A glorified family business.
Where Cash Money exceeded No Limit was that Mannie Fresh made better beats and thus better albums. They also got a better deal with Universal than P got with Priority.
Ultimately, what killed P is what almost hurt Cash Money: they had a big disagreement with KLC due to money. As a result, those budgets ballooned, albums fell apart, artists left, and the rest is history. Mannie only stuck around like 5 years after that, but fortunately for Birdman and Slim, Wayne basically took over and saved the label.....
I mention 1998 also as that was the last year before Napster became a thing and also changed the business. The New Orleans strategy couldn't survive once the Internet kickstarted.