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$400M, $200M, whatever. Sony lost a crap ton of money. They had to pay staff for a game that was in development for 8 years and they had close to 1000 people on payroll for it at one point.
It definitely cost more than GTA V. I mean, Genshin Impact has a dev cost of over ~$700M and that game was in development for only 3 years, and has been actively developed after release for 4 years. Thats ~$100M per year. Cyberpunk 2077 began development in 2013 and when it released 7 years later in 2020 had a development cost of ~$350M. Concord being in development for 8 years and costing less than $400M would almost be absurd.
Another falsehood being repeated is that it was in development for 8 years. It wasn’t. 8 years ago it was an idea.
The actual development is around 4 years.