BG3 is a sequel to a classic game by a successful RPG developer that was making good games in the same basic vein prior.
Name recognition, nostalgia, good reputation, no BS monetization, and not trying to copy and shoehorn every new fangled AAA feature into the game to keep up with the Joneses but focusing on what this kind of game should do best all went into BG3.
Bannerlord actually has a lot in common with it, the big differences being TW is like 1/4th the size of Larian's BG3 team, probably had less money thrown at them to make Bannerlord, and they were more indecisive about the direction of the game during development - which is also a more complicated game in some ways I would think - the turn based with pause formula is not very demanding compared to the kind of crazy stuff Bannerlord's mass real time combat involves.
So I don't really think there's that much for them to learn or that they deserve flak for not being Larian, which had the fortune of a variety of things converging in their favor when they were given a major IP to work on. Credit is certainly due to them for handling that opportunity better than most would, however.
You might be correct about size, recognition and budget comparaison. But I don't think this is the right angle to see the problem.
Taleworlds took the decision to develop an ambitious game on their own, knowing how difficult it will be to handle that much work, also knowing they were going to trap players (and modders ?) in some endless updates timeloop for YEARS to come, aware their product will be unfinished and lacking basic features (we sure can make a list).
And knowing all that, they sold it around $50 from start, through a pre-release state and since the full (?) release they now keep making adverts about, sales or not. Adverts for an unfinished game, once again.
But wait, there is more. It's not like they didn't have prior experience. They made Warband and various iterations of it. They knew what it took to develop that kind of game. As far as I know, no one forced them for some even more ambitious sequel (or prequel ?), that will need more ressources, talents and management. They just thought it was ok to repeat the same process: release a delux template and update it for years, right under our nose.
So yeah, sorry, I don't think it's a matter of size, recognition and money only, but common sense and good planning.
It's probably safe to say today is still early for Taleworlds to release such a game as Mount & Blade: Bannerlord.
But they aren't the only one to blame here. There are a lot of studio/editors like them, whatever their ressources, names, size, budget, country. It's greediness or poor planning everywhere. Most of them have a sneaky or clumsy way to not deliver finished games for a reason or another. It's a whole generation of devs, studios, editors responsible of the actual state of video game industry. A state where players are the real losers.
You want to play Street Fighters ? Sure ! But you will end up with a basic game, then you gonna have to pay season pass for more characters, etc.
You want to play Stellaris ? Sure ! Do you also have money for DLC ?
You want to play Cyberpunk 2047 ? Sure ! But wait...the game needs serious updates.
[add your fav game here]
I remember a time when you bought a game and then...that was it, you had your game.
I do hope the next generation of devs will understand this and respect the players by releasing finished games. Whatever if it's AAA or not. Then we could consider that
"the standards has been raised".
