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Yes, there are no updates because Borderlands 2 / 3 are finished games that have completed its dev cycle. These are not games designed as a service with ongoing revenue stream, they make their money upfront selling the game and DLC. Maybe they will release a new DLC for B3 when/if B4 is released, similar to what they did in B2 when B3 was released but who knows.
Anyways it's normal for games to lose players as they finish the game and get bored and move on to other games.
since gearbox has been merged with the embracer group in 2021, this news of games cancellation and staff layoffs disaster at embracer could mean that they could be forced to shelf their newer borderlands projects until further notice.
the devs betrayed many fans of BL with all of their level cap increases
we shall never forget, now shall we forgive the injustice that was done to us
that's why borderlands died
Actually, come to think of it, Borderlands could be done well as an Anime movie, with Handsome Jack as antagonist. But the Telltale Games team should write the screenplay and dialogues, BL3 team should not be allowed anywhere near the story, characters and screenplay.
because no other fps does the bazillion guns thing
so it holds a monopoly on a VERY attractive and addictive feature in gaming (and it's only going to get better as far as the guns are concerned)