Don't blame Tencent for this, this is entirely on GGG
Tencent has a market cap close to $500b, GGG generates about $40-80m of revenue per year. GGG is a miniscule company in their portfolio.
Tencent didn't force them to release a game before the holidays on 3 platforms.
Tencent didn't force them to pull developers off PoE1(the revenue generator) to an unfinished game that needs another year or two of active development.
Tencent didn't force Jonathan to shut down PoE1's developement indefinitely. Actually, if anyone in Tencent's business department noticed this, they'd be pretty upset too since PoE2 is practically unable to generate any income post-sale because the MTX market is tiny in comparison to PoE1.
It's no secret that the creative team at GGG HATE that PoE players enjoy the very fast dopamine-rush inducing gameplay.
I think PoE 1 has been set up to fail.
Announce PoE 1 is put on hold indefinitely.
Release a bad league 10-11 months late and people are going to be upset because they waited so long for a bad league.
MTX sales are bad, player count is bad.
Jonathan makes a heartfelt video with his legs crossed in a dimly lit room about the 'reality' of how financially unstable GGG is since they're working on two games at the same time and they can't provide regular updates for both. And besides, PoE1 is so much less profitable, I mean, look at the last league they released.
Inevitably PoE 1 gets killed in favor of keeping PoE 2 afloat.