Explaining the current situation at PlatinumGames
Babylon's Fall was originally just a hack and slash with some co-op elements, however, the Square Enix CEO told them to make it live service, the game failed miserably, although it affected Square Enix, Platinum got hurt the most, moral was low and several employees resigned because Platinum image was tarnished, many were mad at Platinum CEO and several games in development were canceled
One of those games was a 3D Castlevania game greenlit by Konami in 2019 but because of COVID and many staff leaving, the game never happened, So what was Inaba's plan to save themselves? you guessed it right, A LIVE SERVICE GAME! he asked everyone that was not working on Bayonetta 3 at the time to put every project on hold and work on a live service idea so he can pitch it to publishers who are interested, the employees did nothing but were trying to come up with concepts for this live service game to be pitched to publishers. Ultimately, many left and this idea of his never worked and those projects were put on hold for literally nothing and only concepts that stayed on papers
Platinum is still big enough and they're working on Ninja Gaiden 4 and apparently a new Bayonetta game but their current situation is very dire