Just an absolute failure at the management & leadership level. From not being able to see the market problems the game would've faced earlier in development, to the inability to sell the game's unique game features & mechanics vs. contemporaries, to the rollout, to the shutdown, and now the studio closure. Something is flawed in SIE leadership from the upper management position to have let things get this far with a game like Concord. It could also be meddling from Sony Corp, mainly Totoki, pushing a direction that is just not working for SIE here.
They better make sure Fairgame$ is an unquestioned success, same with Marathon, else this GAAS push needs to be completely shut down. Unfortunately people thinking it'll get us back to what feels like should be common-sense decisions from SIE, won't happen. They will just push Day 1 for all of their games to Steam to compensate for losses, increase prices for PS+ yet again, cut back on 3P co-developed exclusives & timed exclusives (not like many 3P want to do them anymore seems like. See: Pearl Abyss, Square-Enix), and do even more questionable remasters. Heck, they might also increase porting efforts to Nintendo and Xbox.
Basically, I think the mindset at SIE to do a PS3-style revitalization just aren't there anymore, so it's probably fruitless to imagine that being the case. Which is very sad for me personally, but it is what it is. That SIE doesn't exist anymore; this new SIE is basically the somewhat better cousin of Xbox.
...and Neon Koi didn't get a chance to reveal their game before getting shut down!!