I'm not defending ND, I'm defending the truth. Before TLOU2, outside one fialed try, the typical small overlap of the end of a project with the start of the next one, ND mostly worked only in a single big project at the same time.
Once they branched the TLOU2 MP into its own game, they had two. Once the SP part of TLOU2 got released, they started Intergalactic, and according to them they have another unoannounced SP game that should have started around early 2023. So at some point, they had 3 big new projects under development, on top of all the minor projects of the remasters/remakes/ports/non-gaming adaptations.
TLOU Online got cancelled, something that from time to time sometimes happens in all game companies. The development of AAA games takes longer each generation, and now normally takes on average around 5-9+ years, a bit more when new IP, had the covid in the middle, moving to new engine/generation etc.
With current AAA time development, f not cancelled TLOU Online could have been released around late 2025-2029. Intergalactic would make sense to get released around 2026-2030. Games now take way longer to be made than in the PS3 days, specially if teams try to reduce crunch as much as possible.