Yep. The writing was already on the wall for GPT-5 when they teased a new model for months and let the media believe it was GPT-5, before finally released GPT-4o and admitting they hadn't even started on 5 yet (they quietly announced they were starting a new foundation model a few weeks after 4o).
Don't get me wrong, the cost savings for 4o are great, but it was pretty obvious at that point that they didn't have a clue how they were going to move past 4 in terms of capabilities. If they had a path they wouldn't have intentionally burned the hype for 5 on 4o.
This departure just further cements what I was already sure was the case—OpenAI has lost the lead and doesn't know how they're going to get it back.