Eberron went the other way: they "froze" canon to a particular year instead of having a metaplot happening that shakes the setting up on a regular basis. Instead, the stage is set for any number of Big Things that can happen if you want them to - or not, if you'd rather they didn't. Perhaps you'd rather focus on small-scale adventuring as Xen'drik treasure hunters instead of preventing a rakshasa Overlord from escaping its fetters deep in Khyber, or having Darguun go to war with Breland, or something. As a DM, I greatly favor this approach, because then I won't see something in the core book that looks cool, buy the associated product, and learn that they made a novel trilogy that completely changed the thing I found interesting about that part of the setting (No, I still haven't completely forgiven TSR for Lands of Intrigue).I think the reason they are focusing on the Realms, is because it's the most complete world. Most of the other campaign settings kind of died off once the big crisis was taken care of. Forgotten Realms is literally the only campaign settings they can sell. If they are clever, they can make a new campaign in Ravenloft for every dark lord that breaches the mists, and build the demi-plane one campaign at a time, but they will have to make it interesting, because Curse of Strahd was too dark and depressing for some people. Like I said before about Planescape, it should be an epic tier only campaign. I've never played Ebboron so I have no opinion on it.
Now imagine that the Tolkien Estate took all that in-depth history, and added characters in a new novel from Patrick Rothfuss' Name of the Wind to it; then, they came up with a second new novel where Legolas has to team up with Aslan to stop Jadis the White Witch, and in the third they meet up with Girl Genius Agatha Heterodyne in Europa, which it was discovered is just across the sea all along.You know why Middle-earth is such an amazing fictional setting?
My guess is that your contempt for the Realms colors your whole perspective on this.