Not exactly the same. First of all, a new company hasn’t formed yet and if it does it won’t retain as many of the original staff because it doesn’t have the same momentum as one formed through a legal separation of the companies while everyone is still employed.

It also can’t retain the rights to Stray which would have provided some funding. And it doesn’t retain the rights to whatever projects they had in development, so they won’t have anything to work on for a while.

That legal spinning off was actually pretty important.