If anyone was following this fiasco, they basically launched Dauntless on Steam with a major update that completely wrecked the game and removed much of its content. Dauntless was already struggling and went in weird directions during development but this was the final nail in the coffin, and the company seems to have totally gone under.
Source: https://reddit.com/r/dauntless/comments/1ibfvaq/studio_update/
I think the issue is more that VC’s prioritize draining money out of what they acquire instead of continuing with what works for longer term gains.