Disappointing as I was looking forward to playing this sometime this year with shiny RT effects as I immensely enjoyed the prior game.
I have a few theories on why the studio change.
1. The studio was not delivering the level of quality the IP owner wanted.
2. 1 or more people inside the studio are creeps and/or hold unpopular opinions and the IP holder does not want the game associated with them.
3. They underspent and pocketed some of the funds.
4. They overspent on useless things.
Going by todays social climate my money is on number 2