The first was fun (but boring in the long run), didn't play much of the second since D3 came out and I got burned out on that first. But RIP Runic Games anyway. :'(
Torchlight devs shit canned
Their last game, Hob, must have really bombed hard. I didn't even know it existed until the GB quick look. I wonder if they knew they were done and just made it as their swan song.
All the founders except maybe one had already bailed out of Runic, especially after they sold the company to Perfect World (all the way back in 2010 when they were still considering that Torchlight MMO), the Schaefers (original Diablo guys) and Travis Baldree left in 2014 to join the company working on Rebel Galaxy.
I don't want to say for sure but I think a lot of the Flagship guys who came over in the first place were only there for the first Torchlight, and the start of Torchlight II, then after they sold the company they went off to make Rebel Galaxy. With the rest of the Relic founders coming along after finishing off II. The release date/development timelines line up for much of the original Runic (which was like 20 some people) having mostly moved over and released Rebel Galaxy in 2015, which is when Hob supposedly started development.
Perfect World's statement on Relic basically says "they weren't making an MMO or anything we could sell microtransactions for, and that's like the entire reason we exist so..."
Perfect World also says it's going to continue the Torchlight IP. They also fired half the people behind GIGANTIC too.