I was told Ubi ran out of ideas where to take Assassins Creed next after the shake-up in the creative team and toyed around with several ideas before deciding on the new direction.
So they allegedly tried to make a smaller scale Uncharted clone to fill in the gap between Valhalla and the next open world game but that project didn't move fast enough either.-
Skull and Bones is a bigger joke than Sea of Thieves at this point. It was announced at E3 2017, the expanded 'Assassins Creed sea battle' game has been in development longer than most Assassins Creed games.
I bet it is one of those games they've turned into a GaaS or plan to.
What else do they have announced, Rainbow Six: Quarantine / Parasite which is a spin off of Rainbow Six Siege, Far Cry 6 and well, that's about it as far as 'AAA' games go.
Oh I forgot about Beyond Good & Evil and the Prince of Persia remaster that's in a development hell but so did Ubisoft
This all had a lot to do with that shake-up they announced a while back. That they would move away from just having the same narrative team pump out the same formula and rely more on the creativity of the individual creative directors.
However with the MeToo scandals and fallout hitting the creative leadershp ranks it has been quite difficult to make that work.
I don't understand why they didn't just blame the pandemic like everyone else. Maybe they plan to port/remaster Rayman 2 again, surely that counts at AAA?