As a die-hard Matsuno fan whose favourite FF game is 12, played through not only the Ivalice Alliance, but also Ogre Battle and Crimson Shroud, I can say that they spent a little too many resources. The tone and depth Matsuno goes for isn't the sort of thing 14 is used to. And there just was no balance between those aspects or the additions from FF12 and Tactics's stories.
Now don't get me wrong. It still takes self-restraint not to gush all about the Return to Ivalice plot to my friends, and Bozja overall reminded me of a really good version of FF12 (complete with all the brown! xD) mixed with Type-0. So much of it was well executed, and for fans of Matsuno it's an honest treat. But from a FF14 perspective, someone coming in not used to how he chooses to write and present his narratives is sure to feel iffy about it. He's dry, he's verbose and he's incredibly politically-heavy. That's not everyone's cup of tea.
14 did start out that way, trying to capture that essence, but they never really succeeded. And rarely are Matsuno's works whimsical. FF14 plays the whimsy every waking moment. Bozja is dense. You're constantly confronted with the geopolitical aspect of it all, the characters around you philosophize about how to proceed in ruling a country without going for the KH-esque "I will rule from the heart!!!" trope...
However. One thing I will point out is how these elements just did not blend well together. Probably because of circumstances, notably the pandemic. Yes, having the codex was a phenomenal way to give what people wanted: a FF12 Bestiary that expanded on the lore. But holy hell, the characters that were meant to be important to us on our journey got offed so unceremoniously. Then the lore just gets handwaved for drama yet again. And people ignore all the heinous realities around them just to focus on some chick with foresight. And all of their backstory and resolution gets shunted onto the codex.
...no. That's not how you do Matsuno content. You have the characters show their impact to the player and\or plot around them, you explore the stuff they have a connection to and you make their losses feel like they have either a meaning or a consequence past them. And while you can expand on your world through text entries, don't shove the resolution of your overarching plot on some paper!
All in all, it was a lot of investment for something that they just ended up shafting at the end. That was just not great, and definitely not a good send-off for Matsuno's involvement in the project.