I was also thinking a bit more about Bluepoint working with the The Last Guardian. Similar to Bloodborne, I think that this game would be great with a revamp. It baffles me that they locked it to 30fps on the PS4, yet if you play an unpatched copy on PS5 it runs at 60fps. Granted, the unpatched version is supposedly completely broken. Like with Bloodborne, has too much time now elapsed and a remaster is the better move?
If you watch the DF video on Bloodborne, it gives you aa. lot of context. Context is key to a lot of decisions in game development.
The Last Guardian came out in 2016 and Team ICO had already left. Their entire goal would have been just to finish this game.
The PS4 Pro patch focuses on resolution rather than frame rate enhancements. They locked the game at 30 fps because the PS4 game could barely hit that target and the PS4 Pro mode could barely hit 30 fps in 4K.
What would have been ideal is a 1080p60 mode on PS4 Pro, but again I think that isn't the marketing Sony was looking for and there was no consideration for the PS5 at this point.
The team having moved on, had no reason to return to Sony to update the game for the PS5.
Both Bloodborne and The Last Guardian were given out for free in the PS+ Collection. There's not much market for updating these games for free. Bloodborne has a lot of value for Sony, but The Last Guardian probably doesn't. To remaster or remake The Last Guardian that never really sold all that well, would be an interesting choice and you'd need to fix its camera controls rather than keep the game code the same.
Given the time in between releases it's likely that Bluepoint is working on at least two projects.