If Meta cares about their people or reducing loses, they'd have tried to sell the studio before shutting it down. But maybe didn't want to sell it to the best selling non-standalone VR maker, Sony.
SIE also acquired many companies in recent years and they paused aquisitions until they complete paying costs related to the previous ones. Plus is also opening different new SIE dev studios and are also in a moment where they reducing costs to improve profitability and also waiting to sell in a year or so most of their banks/finances division to get cash for mostly entertainment acquisitions.
So pretty likely even in the case that Meta would be open to sell them to Sony and Sony could have been interested on acquiring RaD, now maybe isn't a good moment for SIE acquisitions.
There's also the possibility that RaD and Sony ended their relationship in a bad way because who knows what reasons, and maybe Sony isn't interested on investing on internally developed VR games for a while.
It's a shame, because I think RaD would be a great fit, were super talented and had a lot of potential.
Regarding Crash and Spyro, I think MS bougth them to have them in their list of IPs when compared to Sony, and also to make their ABK acquisition look better. Even if they don't plan to properly use them. I highly doubt they'd want to sell them to Sony.
At the same time, I think Sony has many dormant IPs that are more important/big sellers than Crash or Spyro, which are dormant because they have their teams busy with other stuff. So I don't think they'd be interested to get IPs to pretty likely keep them dormant.
The Order has potential? Everyone laughed at that piece of shit.
Yes, The Order had a lot of potential.
It had some flaws but in many areas was better than most games of the time, and in these areas continues being better than most titles published until today.