I have heard the rumors and was waiting for official confirmation, but now that it's official - this is very disappointing to hear.
I like G5 and believed that it had a lot more to offer, except that Hasbro has a track record of strategic planning errors. Not only when it comes to MLP, but their business practices in general. G5 did good despite the market in the past few years when you examine financials. G5 had a movie that topped the global box office and Netflix worldwide at the time in 2021 and had multiple shows with many episodes. Very few series ever get that treatment at all in their lifetimes. However, to me - it felt at times that Hasbro was making every decision on the fly and it even seemed like they were trying to derail the G5 train itself. I had my suspicions that this was a cash grab before and when you look at an overview of the release and announcement timeline, it really starts to become more visible. My theory is this: Hasbro deliberately planned G5 this way from the very start. They only changed things like producing additional episodes to TYT, when they saw viewership numbers go higher than expected. Even the fact that this announcement was on the third anniversary of "A New Generation" felt really off.
If there's nothing else planned for G5 at this time - I see it as the end of G5 basically. I have heard rumors that they might do a revamp with G4 and G5 combined, but it's not going to be the same. Honestly, I think it might be entertaining at first to watch the different gens interact, but where do they go from there? How long will that last? Hasbro started off strong with the G5 movie and had some great moments spread throughout MYM and TYT, but then they just seemingly gave up. I felt that they kept wanting to go back to G4 as it was their "lightning in the bottle", but even when G4 was around - they couldn't even manage consistency towards the end of the series.
Some people messaged me, excited as they somehow see this as an opportunity for G4 to come back as a reboot. As much as I love G4, it already ended. They had 9 seasons(10 if you count the comics), several spinoffs, specials, and even a movie. Why do they need to come back? It doesn't make any sense. Nostalgia feels great when looking back at things, but not to re-live them. Don't believe me? Go watch both seasons of G4's Pony Life. It's not absolutely terrible as some claim it is, but that series was Hasbro's attempt of rebooting and turning G4 into the next Teen Titan's Go. I would not put it past them to attempt it again with a new series.
I am hoping that if they ever release G6, that it exists in it's own universe/timeline away from G4 and G5. That it is its own original series with original characters, and I'm fine with references to the other gens here and there, but let G6 just be itself and let it grow organically.
I'm honestly going to miss the G5 cast. If this is it, thank you for the great memories!