Square Enix seem to be in hot water at the moment. Losing $6 billion since the release of Final Fantasy 16 in June 2023, this could be something that Square Enix may strggle to pull themselves out of.
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This is shocking but not surprising. I feel that Square Enix tends to work on many other smaller projects as well as big projects much like Final Fantasy 16. If they were to focus more on bigger releases, this could have possibly been avoided.