There have been a lot of good responses to the studio closures and good articles written, but this is not one of them.
Hi-Fi Rush was not a small project, and putting it in the same bucket as Balatro and Manor Lords is outright bizarre. It’s far closer to AAA budget scale than it would be solo/small indie projects.
Edit to add:
I don’t know how the fact presented here ended up being controversial somehow, but don’t take my word for it. Here’s a quote from John Johanas, Hi-Fi Rush’s director:
It was supposed to be a small project from Tango. And people probably see it as this weird, sort-of AA title. Or people are like, “Oh, they made a nice indie game.” This ain’t no indie game. Obviously, I can’t say how much it cost, but it was not a cheap game to make.
And lead programmer Yuji Nakamura:
For the first two years I would say it was a small project. But what John wanted to make was not a very small thing to do. We needed to get more and more people to help. In my mind, small projects would be maybe 20 to 30 people for two years. We ended up developing for about five; I wouldn’t call it a small project at all.