The argument that ultimate was cut doesn't stem from how much work was put into it. The argument that ultimate has been "cut" is derived from the assertion that the content cycle's norm is 2 ultimates per expansion.

If we accept that each expansion has two ultimates, then unless endwalker has three ultimates (the one delayed from shadowbringers and the two assumedly slated for it), then an ultimate was cut. Maybe not dragonsong ultimate, but *an* ultimate.

In the framework of this argument, let's say endwalker has only two ultimates; one would be dragonsong ultimate, which is a Shadowbringers Ultimate, and the other would be an endwalker ultimate. This means that, unless 7.0 has 3 ultimates, including the second from endwalker, an ultimate was cut.

One can argue several points; the premise is flawed since we have a data set of two (storm blood and Shadowbringers) so we cannot form a pattern from that. This would be the more legitimate argument imo. One could also continually make the argument nothing was cut and everything was just delayed, which... Well, the devs can ride that "borrowing from the future" train forever to never admit that content was cut, we'll just have this same scuffle every two years about the subject.