In 2024-2025, the streaming wars have changed. Legacy licenses are expensive. Netflix is increasingly focused on owning its IP outright. Spending $50–70 million to license a new season of a show they don't own (Disney would own it) is a poor investment when they could produce two new original thrillers for the same price.
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The project is in a state of "development purgatory." It is not officially canceled, but without its lead actor, it is functionally frozen. The Streaming Math Problem Even if Miller returned, would a Season 6 make sense for Netflix? In 2024-2025, the streaming wars have changed
Specifically, he said he no longer wanted to play straight characters (Miller is gay) and that revisiting Michael’s trauma "no longer felt right." Spending $50–70 million to license a new season