Bah
Arcane
The issue though is not that the games are trying to achieve the same goals or that they are even in the same genre (although I'd argue they both still fall under the general purview of "ARPG"), that doesn't really matter. I've already bought ELEX II and I think that most people who have been following Piranha Bytes for a long time have as well, but putting it on sale directly following Elden Ring, same core audience or not, is absolutely bound to overshadow ELEX II and keep the game from being noticed by potential new players. This absolutely can affect total sales and there is historic precedence of this effect from the many, many other indie and AA developers that saw weak sales in the shadow of a well-publicized AAA release.
I recognize this argument, and it has merit. But I counter with an argument that I don't want Piranha Bytes to become a major AAA successful studio. We saw what happened with CD Projekt after that happened, and every single game they released after Witcher 1 was worse than the prior game culminating in the absolute shit-show that was Cyberpunk 2077.
So I'm perfectly happy for Piranha Byte to remain an obscure studio, who never achieve universal recognition and funding from the masses, and who remains faithful to their fan-base, releasing game after game that maintains the style they've been developing for since Gothic 1 in 2001. I hope they never bow to mass-success and journalist pressure to make their games worse with each generation.