3 years is probably the minimum it's taking them to develop this game, I’m assuming. Remember the Covid factor.
If not for the pandemic, this would probably have been the Switch’s big December title. (Animal Crossing + Monster Hunter in the same year... Good Lord Have Mercy.)
They most likely took the wait-and-see approach with Switch after how badly the Wii U bombed. Then, once they saw that it was a smash hit (somewhere between Splatoon 2 and Super Mario Odyssey, I’m guessing) they got right to work on this one while they were putting the finishing touches on MH World.
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