Team Fortress 2 Update Outlook

A video from the Valve News Network discusses the current scaled-back state of development of Team Fortress 2, noting that the lack of recent updates makes it apparent that the multiplayer shooter is in a bit of a holding pattern. Their discussion of this is prompted by a recent Operation Madness vs Machines interview, a self-interview based on a semi-recent visit to Valve. The VNN video's premise is that TF2 "is on hold." That's not technically what the "interview" says, which reinforces a disclaimer at the head of the document suggesting summarizing any of its contents is dangerous: "To minimize the chances of misunderstandings, each person should read the file on their own and not listen to other people’s summaries (tl;dr’s are quite dangerous here). Reading what other people say about my experiences has the risk of them injecting false information in their summaries (intentional or not)." The lengthy document makes it clear Valve is still supporting the game, and it answers a number of questions about how new content gets created. But it notes nothing is in the pipeline right now, and offers the following outlook on the possibility of a new update:
Q: If the TF Team does fully cut support to TF2, will they tell the community not to expect any more updates or will they just let players sit in eternal anticipation of the next update?

This is a bit of a loaded question, so it will get a loaded answer: They will let players sit in eternal anticipation of the next update.

Like I said earlier, Valve employees keep moving around to different projects that the company has going on. Why would Valve want to declare that TF2 is permanently dead when it still makes them money? What if Valve comes up with an amazing update idea that they want to implement for TF2 in the future?
What if there’s a slow period in Valve’s projects and the TF Team has time to make something new?

Valve doesn’t know right now when they will release the next content update. They would love to if they could, but they can’t because they have other, more important things in the company to work on.

Just like Valve won’t promise an update or a timeline because they may later backpedal on it, similarly Valve won’t ever announce that TF2 development is over because they may backpedal on that too. The backpedaling works in both ways (in this case it’s in favor of the TF2 community).

In short, yes this means players will have to sit in eternal anticipation of the next update.