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Posted by Greetings friends!!!
I just wanna point out some key facts in this latest announcement, and try to give an opinion as best as I could coming from a neutral perspective. 
Hey folks,
Sorry for the lack of updates as of late, unfortunately Eldevin never quite gained the following it required for us to justify allocating our full development team to it. As such we've had to scale down development time. However we intend to continue to fully support the game and still plan to release future updates, but currently we have no time-scale for these as of yet.
~The Eldevin Team
I've been checking the forums and been seeing the responses. Of course it's completely understandable why people would be disappointed. I for one though don't feel disappointed but rather sad for how the game has become.
HCS did a great job in making this announcement as straight-forward as possible so as to avoid any misunderstanding and yet it seems people are coming to conclusions way too fast which causes misunderstandings anyway.
So here is what I understand from this post.
1. Eldevin is currently struggling in terms of player base.
This is the truth, the REALITY of it. For me the struggle started mildly sometime in the late September of 2015 (Maybe it's even earlier for some.) may it be due to players taking a break or quitting entirely for reaching end game and having no progression whatsoever. Though the Halloween and Christmas events did seem to bring back old players. Also the EP trade in those times especially in the Halloween event really flourished again it was only temporary thus the game is at its current state which is even worse.
2. Game content updates will be coming in slower than we're even used to. <--- Let me just point out that they NEVER said that they're STOPPING or HALTING or CANCELLING the updates. This is very clear.
Most if not all the earlier Eldevin players including myself are quite used to the pace of updates coming from HCS. There are people who've been complaining about how slow updates were (and that is very understandable) and there are people including myself who are okay with it. I for one have always been aware that HCS isn't that big of a company just yet that I don't expect them to be doing magic.
People would go as far as to say that HCS was being lazy, and again I don't blame them for feeling that way. I personally never saw it that way, not cuz I have a huge patience (Mind you, I do feel frustrated and sad about the game.) but because I'm also aware that behind all of the coding and programming and all the other fancy tech stuff... All this goes down to being a business. They have to make decisions that would be the least damaging. It's like choosing the lesser of two evils I suppose LOL.
Let's say.. for example, they push for the updates which will cost HCS... They'll most likely be taking the amount of money that it would cost to do that from the funds allocated for Eldevin which is most likely currently being focused on keeping the servers running. Meaning, there is a downside in that they could end up decreasing the life of the game when they could lengthen it prolonging the window to figure things out.
Imagine if they push the level 50 content, OFC!! Everybody happy! Yippeeee!! Yahooooo!!! Kapow!! Boom boom!!! .......
Then not even a week after release we get an announcement that the game is closing LOL. (And please before anyone reacts to this, it's just an exaggeration OFC.)
Now some might argue "Hey why not use the money you get from your other games!?!?!?!" perhaps maybe they have already done it before, and if they haven't done that yet IMO it would be completely logical. As I've mentioned above it is still business, before one decides to put money on something you have to see at least a bit of positive return.
(If you're selling cows and horses and it's the horses that are actually selling and the cows aren't selling as much... You don't buy more cows, YOU BUY MORE HORSES!!! vice versa ).
Side Note:
Just in case people get the impression that I'm siding with HCS on this one... Nope, hell nope. This is how I see it from a neutral standpoint. Again I repeat that I can understand why people are getting mad, angry, raging or however one wants to put it and they have reasons to do so.
1.The updates were already quite slow even before you actually posted the announcement which even gives us the idea that the updates are going to get even SLOWER...
2. There are also those who would argue INCLUDING MYSELF that the time, money and effort to make the guild update which in my opinion is completely useless to the game at this time should've gone to the level 50 content update instead.
(TBH I have no idea how there were players in the game who even thought that the guild update would help the game LOL. It's probably cuz I'm stupid so yeah.)
3. Not to mention, there seems to be an issue with the response time on tickets as well. True or not I wouldn't know, but I've been seeing people say it in the game.
Boo ya! I hope I neutral'ed the hell out of this reply enough LOL.
PS:
I have a lot of broken trust and disliking towards HCS because of Eldevin. Whatever their new game is, its most likely a replacement for Eldevin. HCS knows Eldevin is dead and only their loyal fans will continue to play it. There's no saving it now since the steam launch was wasted on a half finished game and they wont waste resources to advertise it.
I wasted time and money on the game, I gave it all to an inexperienced developer and feel worst for all the people that bought the founders pack (especially the dumb high priced ones, HCS acting like this was some sort of triple-A MMO title) even though there's free (or maybe even stolen) resources and assets (sounds/music is all that I have found) in the game.
Hey maybe this is good however for newcomers. At least those people in the future that play HCS's games wont be so open with their wallets, time, trust and love (unless of course HCS hides the truth from them, but I don't think that they are that low).
I don't care if this gets deleted or disliked by the white knights or people that have issues against me, its the truth.
*Cashgrabs
Hey sap bud, c'mon man that was completely uncalled for... LOL. I understand the hate, but at the very least try to be logical about it.
Sure bud you did put money into the game, and that's really cool but you also did have your time in the game did you not? That's not to say that the money you put into the game will be enough to sustain the game for eternity and make it invincible to financial difficulties caused by changing variables wouldn't you agree?
As for the people who purchased the founder's pack, whether they're disappointed or not the fact remains they bought a founder's pack and if the terms of the founder's pack or the conditions in which the pack was bought is the same as the ones in other games wherein a Founder's Pack is offered early in game development and the buyers are made aware that it is still too early in the game to be buying this type of package then it goes without saying that it was a choice they made knowing that things might not go well for the game and they may end up unsatisfied.
That been said, the founders in the game are one if not maybe even the main reason why the game is up for this long so yeah I really would like to extend my gratitude to them. 
Sap bud, we're cool man hope you understand my point of view. Wishing you well bud!