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The games industry as a whole seems to be having problems. This always sucks when people lose their jobs, but seems to be following the trend.
I mean, they were developing an entire game.
The game is now developed. The workload has lessened, doesn't mean we won't still see DLC.
Except it is still in Beta, right? Release firings are expected. Still in Beta (with very little content and a whole lot of bugs) layoffs aren't.
The ARE developing an entire game. They don't make much effort to tell you this, but it's in beta.
Seems pretty "no evidence of an early access banner anywhere" to me.
The problem it is having is called greed.
The problem is burning through seed money and having no income other than ludicrously overpriced cosmetics.
I don't know how many $16 Hot Dog costumes you'd have to sell per day to afford the salary of 49 game developers but I'm guessing they found out.
As far as the monetization model, they're obviously targeting "whales" who will snatch up every bit of store merch. they can no matter the cost. It is high risk / high reward, but completely unsustainable unless they constantly push out a lot of new store items. They'll either ride or die with that business model or they'll end up bringing the prices way down except for ultra prem. things like more pets, etc.