Team ICO is a joke, next year will make it 8 years since SOTC came out. Team ICO did not work on the HD Collection, AFAIK the port was done by Bluepoint. It's inexcusable for a developer, of any size, to go almost a decade without any game to show. Sony has lost a lot of money over this past decade, and probably a lot of money from this crappy team alone. If there are 40 employees/contractors at Team ICO with an average salary of 50k a year without any bonuses (being ultra conservative) equals 16 mil lost over 8 years. And that's not counting cost of employee benefits, rental, electricity, etc. Major drain
On top of that, they are very overrated, ICO is not a great game like GAF wants to make it seem. I played it from the collection and I say it's an ok game, passable but not great. There are countless other games that I would rate above it. SOTC though was a great game, simple and with great colossus battles.
So the way I see it, Team ICO made one ok game and one great game in 11 years. That's not a portfolio I would be really proud of.
I'm of the belief that Ueda only left Sony due to him being forced out by Sony in order to make compromises to finish this damn thing. As a contractor, they will still go to him for his creative mind and vision on the game, but that's where it ends. The coders and artists will have to get stuff done with what they have. And it's about damn time.