and yes 100MIL is crazy high budget for a new IP
I have been on a game project reset 3 times (far far from 100 millions $, but still). I came to the project for the 3rd reset as a developer (some kind of "Obiwan, your are our only hope... and you have 1 month" mode). What happens is that you don't have so much people inside with experience enough to manage a project. That makes sense, because you size your employees and skills for what you actually do. Also the director has an excellent reputation of success, so it's hard to give the project to someone with less experience/reputation, and hard to think than with a demotivated team a new challenger will help. Because you lost so many money, you have even lesser time and money than the previous attempt... Then you face reality, close the project and give the the guy a lesser good position. Even Obiwan could not save it. Shit happen ;)
In short, in business term, you do with what you have, even if what you have already failed, because you don't have better to achieve the target.