It hasn't been five years. Chris took over in 2016. 3 years. And I'm sure the beginning of that time period wasn't ideal as they still largely had a rag tag group of volunteers but mostly no actual employees, so the team had to be formed and weeded out. In interviews, Chris and Kilsin have said they scrapped the entire game except the lore and started over. That occurred in 2016 at some point before July. Brad hasn't been utilized in day to day activities outside marketing since before that point in time. And if you listen to any of the interviews in the last two years, Brad tends to say something, and then Chris has to correct the record that what Brad said is mostly incorrect. Once the project died, Brad seems to have agreed to let others resuscitate it while largely staying out of the way. He continues to try and hype it from time to time though.
Before Chris took over, it was fuzzy trolls, napkin art, and a dead game. In the three years since, the growth and production has been significant. They've also said that due to technology, one zone in Pantheon is equivalent to 4 or 5 zones in EQ. The size and scope of Faerthale (the zone) alone is going to be bigger than all the Karanas put together. Yeah, it's one zone, but you can likely go from 1 to 40 within those content pockets. Avendyr's Pass and Thronefast are massive "zones" as well. Halnir's Cave and Black Rose Keep are moderately sized dungeons. Amberfaet is a very large raid dungeon. Tower of the Reckless Magician is a large dungeon. South Saol Peninsula and Wild's End are large outdoor "zones". All of those zones have been shown to the public along with the Union of Shadow zone. Counting Faerthale, which was in PA4, that's 10 zones they've shown publicly. They've also talked about working on the Roan Mountains which is probably the next zone after Faerthale we see, and that should house the Silent Sanctum dungeon.
On top of those 10 zones, they've created the character models for all the races, both male and female, with the final three (Dark Myr, Archai, and Skar) possibly going in as early as this next update. All the classes are now in the game and functioning. The perception system is in game. Climbing is fleshed out and in game. Animations are now being worked on by Ross Armstrong, who is by no means a scrub hire. They still have the Unity team of engineers doing their part to improve the engine and optimize it. I see a lot of positives in the last three years, with most of that coming in the last 1.5 years, but this next update has to deliver.
If this is a scam, and it very well might have started out as one, they sure aren't acting like it now. I think people need to separate the Brad McQuaid/Silas/Fuzzy Troll Pantheon of 2014-2016, and the reboot Chris Perkins era from 2016-Present. One of those had very little work to show, one has quite a bit. I'm still optimistic. In my view, and from what I understand, Chris has had two years of a semi-functional team to get the project back up off the ground and running. If that's true, they've done pretty well in that time. And they just hired their animator and VFX guy this year, so it hasn't been a full MMO team until recently, if even yet. The game and development are moving in the right direction, but only if you understand when development of this version of the game actually started.