Ray, as the architect of the 2024 edition, can you speak to what the impetus was for launching the new edition in 2020? Were sales starting to lessen that early in, or was something else the driver? (To be clear, nothing historically wrong with sales flattening... it's amazingly positive relative to D&D's history.)
Sales weren't decreasing. From 2014 until I left (and possibly beyond), D&D revenues grew every year and by double digits in most years. Sales on the PHB alone were at least steady, and probably growing slightly YoY, as well. (I equivocate because the number of units sold was certainly growing, but we don't know exactly how many of the digital units were selling to net new customers as opposed to purchasers who already bought physical copies.) Five years in, the 5E business was stable in a way that hadn't occurred with any previous edition.
The original goals for the new core books were: 1) improving accessibility, 2) upleveling the art, 3) fixing a small handful of long-time issues and bringing some subtle elements of the design more in-line with the current state of the art, 4) moving a few things from expansion products into the core, and 5) laying a better foundation for future expansion. Numbers #1-4 are pretty self-explanatory. Number #5 was about reorienting the game rules to fully embrace the idea that D&D is a multiverse composed of an infinite number of unique worlds. That meant further distancing lore from the rules in some cases and being very careful about canonizing definitive statements about, say, orcs because (we believed) there is no such thing as a "D&D orc;" there are "Forgotten Realms orcs," "Eberron orcs," even the orcs from countless homebrew campaigns, all of which may differ in fundamental ways.
We never endeavored to craft a "new edition." My original concept was to name Monsters of the Multiverse the fourth core book, revise the PHB in 2023, the DMG in 2024, the MM in 2025, and MotM in 2026. In 2027, we'd revise the PHB yet again. In other words, going forward, we would release a revised core book each year, and each core book would be refreshed every four years. The idea was to further boost D&D's balance sheet, but also establish a mechanism that allowed the game to continuously improve and evolve instead of forestalling innovation until we we could pull of a quantum "edition shift."
Of course, things didn't unfold that way. The C-Suite insisted we revise all the core books together and very much wanted to position this effort as a "new edition," not to boost sales but to help solve an orthogonal business problem that later became moot. We were also ordered to announce the new core books much earlier than we preferred. I was deeply concerned that announcing a "new edition" would crash vital backlist sales. Thus began the strange linguistic dance of trying to position these books as both "a new edition" and "not a new edition" at the same time. (For my money, they are absolutely not a "new edition.")