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The denial is only on one side.
And when you consider the (now somewhat tame by comparison) kerfuffle over a couple seconds of sideboob in a (at worst) PG-13 girl-on-Asari love scene in the original Mass Effect...who knows? Maybe EA/Bioware are happy!
EA just announced they are restructuring BioWare now.
That we were. It's as if we saw the writing on the wall.
I'm guessing that Bioware will have to prove to EA that they have a solid plan for the next Mass Effect, before they are allowed to hire for full production. They have a history of going into full production too early and wasting developer resources. Bioware is not closing yet, but this is their very last chance and they will have to nail the next Mass Effect.
No need to hold your breath, the next Mass Effect will probably be DOA. You can fire as many devs as you want, but without addressing the systemic issues within the studio/industry that led to previous disasters like Andromeda/Anthem/Veilguard you're just going to end up with the same result.
If you think the next Mass Effect is actually going to happen, that's just as much denial as everyone else calling this game a "10/10" on release.
They've already started layoffs and downsizing. They've had 3 massive financial failures in a row now.
EA itself is now having its stock plummet, so the wallet is closing. Something I never thought I'd see happen as their microtransaction nonsense with their sports titles could've kept them going until the heat death of the universe, but the backlash against all this absolute garbage in the gaming industry is catching up with them. They won't have capital to give even a watered down, downsized Bioware.
Give it six months and the Edmonton office is going to be closed. Who knows what the fate of Austin will be. The taxes in Austin are probably less than Edmonton, though they probably lose out on certain tax breaks. One of the two is probably going to get shut down, or at least have the physical office shelved.
3 strikes and you're out. It's over. All we're waiting for is the actual announcement.