Well, didn't they say they didn't even know what kind of game they wanted to make shortly after Everwild was announced?
Rare in 2020: ““Part of the reason we haven’t talked a lot about Everwild is because we’re still feeling a lot of these things out. We’re still playing around with gameplay ideas.”
People: “Rare doesn’t even know what kind of game Everwild is”
Much of the lurid tales about Everwild come from Jeff Grubb, who isn’t exactly known for accurately detailing the state of game development.
Claims that they started from scratch have been denied by MS, and don’t really seem credible anyway.
It’s long overdue that they show something, though. If they don’t show anything by next year’s June showcase, then it’s definitely not a great sign.