Still lurking. NGL, I don’t really see a point in renewing development of Boundless at this point. It would be a better investment to begin development of a sequel, with modern systems in mind. Boundless is so hamstrung by its PS4 system limitations that it can never thrive in today’s gaming environment.
Boundless 2: Oortling Boogaloo
Yeah just like Minecraft couldn’t thrive in today’s gaming environment! Oh wait… it does. 
Also the rewrite of MC is still incredibly buggy after many years. Boundless doesn’t need a rewrite, it needs fixing in a few key areas and then, optimally, a constant stream of small content upgrades and bug fixes. Imho at least 
Both can be true to an extent but I think the answer is that part of their update strategy should be leaving PS4 behind and moving to PS5+ and updating the game accordingly with some engine enhancements to go along with new blocks and a revamped NPE. Then, the largest and most important piece, would be a strong marketing campaign to get the game out there and really grow the playerbase.
All that said, I have absolutely zero faith in Monumental anymore and am fairly confident this game will stay on life support until they ultimately decide to shut it down like they did Crowfall.
Little content updates are only going to appease the current playerbase for the most part. While I do feel Boundless is pretty dated at this point, I feel whatever deal/contractual agreements James had with Sony probably does and will hold the game back from too much further development and making a Boundless 2 would be possible considering Monumental does apparently have some deep pockets considering their recent acquisitions.
But, that said, the amount of money and time it would take to make a Boundless 2 would be 2-4 years at least. Considering (from what I have heard) the current code is pretty old and not to well put together upgrading the current game is probably not feasible. Content updates though, sure.
In the end, it’s a very niche game, so it would have to be worth the time to make a sequel. From a business perspective, the numbers for the current game don’t warrant a sequel.
Moving it to something like UE5 would be interesting though 