That's my guess too. They'll keep puttering with BL while knowing in the back of their minds that it's going nowhere... While Armagan is trying in parallel to relive his previous sucess (and fun, I suppose)The relevant thing is what they are doing now to remedy the situation, if anything? Did they give up on planning and orderly development because they are tired and jaded of all the chaos? Or did they realize they need a fresh and more professional approach and new faces in the leadership team?
The likely answer is neither, Armagan started a fresh unannounced project while probably leaving the Bannerlord team to continue without clear leadership and with the good old daily improvisation.
I don't think the situation is salvageable at this point. It would take a complete change of leadership, organization and a massive rework of the project. Things that would be very hard to decide, cost tons of time and money and for very little return on investment.