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Though going f2p at this point wouldn't save it, maybe if they hired on some guys from the first descendant team to help make a few characters before going f2p could make it a massive success.
yeah nah not even F2P.
Even if we're super generous and say that the peak players was only 20% of the people who have bought the game on Steam, that would mean they've only made less than $140k on a game they spend a ton of money on. Cost estimates I'm seeing vary widely, anywhere from $50-200million. The upper end sounds like a stretch for this game, I'm more inclined to believe the lower end or even lower than that. Even still, this is a commercial failure and they would be better off cutting their losses rather than continuing to pay for servers nobody is using.
SO to answer your question....not anytime soon. They will either cut their losses once possible like Redfall. Or try to pull a No Mans Sky and give it a second life. Going with the latter because shareholders have a lot invested in this game, if they don't try to turn it around you will see lawsuits hitting Sony.
No sane person on the planet wants to identify with this horror show lineup of characters in any form.
The whole rest of the games theme is uninspired and boring too.
Even with a free to play model i dont see anyone touching it, not even the dumbest eaters of the world.