No surprise there… we got exctly 3 shit-shows in terms of Cycles… out of 3 Cycles.
That’s basically a 100% sub-par rate 
Cycle 1 failed to tackle the core issues of the game, focus was on pinnacle content when neither balance nor end-game content overall exists.
Cycle 2 failed to be provided in a reasonable timeframe.
Cycle 3 is undercooked beyond end as interactions are very shallow. You don’t really care for anything happening outside of ‘this will be the resulting reward type’ basically.
The issue isn’t that EHG doesn’t put effort into their work, they absolutely do! You can clearly see that.
The issue is that EHG seemingly has no clue - and they prove it repeatedly - how to cause large effects with little effort.
Imagine for the 3 cycles those things being done instead of what we were provided with:
Cycle 1: We get 2 phase bosses for the Harbingers, a specific type of Arena layout which is a combination of boss-fight and arena. Hence you fight the Harbinger of that timeline in a separate area and waves of mobs between the phases or even together with the Harbinger for the second phase.
Miniscule extra effort… massive effect in perception.
Cycle 2: Instead of stuffing the tombs/cemeteries into monolith maps how about it being similar to dungeons? They procedural generation causing you a need to find a way through them, kill the boss and get rewards. Then at the end you can advance to a higher difficulty (scaling similar to corruption to simulate that) and do directly the next layout. Access per stage is limited by an item dropped in Monoliths. Starting access area is freely chosen from all which you already managed to beat. So a procedural progression.
Miniscule changes… massive impact in perception without screwing over Monolith gameplay as it did as it’s detached from it. The cocoons can be a randomly appearing bonus-mechanic in monoliths simply.
Cycle 3:
Allowing several ‘ancestry lines’ so you can focus each on a specific reward type and tailor-craft them to your liking, providing variety in what you find rather then ‘always the same’ as well as a longer-term setup stage in total.
Large impact little effort once more.
It’s not that they do stuff… it’s how EHG does stuff which leads to issues.
Well, who’s in the wrong then? Judd or the report? Either is a massive massive issue.
And even if the shelf price revenue was those 6 mil profit… that would mean a total amount of 2 million sold copies during that timeframe. So I imagine it not upholding truth actually to be solely the shelf-price.