How do PVP games with such little content, asset wise, have such high budget costs? I assume they-- or at least hope that they do a lot more refining of things like the layout of the map than single player games but I just can't see how it works out to justify the cost.
Like others have said, massive headcount and frivolous expenses add up very quickly.
There's also the unspoken competency crisis ravaging the gaming industry. I always like to challenge people to play a little game: try to find a team picture of your favorite developer from 20 years ago, and a picture of the team now.
What do you notice? Try to count the number of women, "women", non-Whites/East Asian men and other diverse hires in the past and now.
A modern AAA developer requires ten times the manpower to deliver ten times less content, always years late, overbudget, with game breaking bugs and nowhere near the quality, ambition or fun of their older titles.
Bethesda delivered Morrowind with less than 40 people, Skyrim with less than 70 people, but needed over 1000 people for Starfield. The was in development for twice as long as Morrowind or Skyrim, and despite that Morrowind has 300+ unique quests while Starfield has 39.
You can't deliver a competitive product when the whole team consists of dysfunctional freaks.
don't forget the program the use to make content for Destiny 2 is so bizarre it takes hours to boot up or some nonsense
If they want to make changes to maps, no matter how tiny or insignificant, they need to spool up the map and leave it to load overnight IIRC.
Tech debt tends to accumulate when you only hire smoothbrains.