Despite garnering a lot of players when it first launched, MultiVersus is set to shut down soon. In May, the game will no longer be available to download, and will only be playable against AI or in offline battles after that.
It seems that even with Player First Games declaring Season 5 would be the last season of the game, there were plans to continue MultiVersus beyond that, as shown by leaked map images courtesy of AusilMV. These maps are in various stages of development, but each show a cool fighting arena like Steamboat Willie's boat, Barbie's Dreamhouse, a Quidditch match and more.
These stages will never see the light of day, as while there is some time to go until May, nothing new will be added to MultiVersus considering the game is going offline forever. Such is the way of a lot of live-service releases nowadays, as it seems harder than ever to break into this saturated market.