The 5 most important things a publisher brings to the table are:
1. upfront money to make the game (later paid back by the dev!)
2. upfront money for replication and marketing (Repl. is paid by the dev as part of the COGs. Marketing is the publisher´s problem.)
3. money for all the small things
4. marketing
5. sales & distribution
#s 4 & 5 can be outsourced, but 1-3 are things you either have or need.
Also needed is
6. money on the bank to survive until the next project has been signed or the sales money comes in. This means at least 6 months, or better 12.
Self publishing is something I would recommend to PB for G5.
Da Masterplan:
1. Create new game franchise, make one add-on, both smaller (50 / 25 hours), deep and relatively low budget.
2. Make additional games in the new franchise until they can fund all 5 steps listed above for G5 in Germany and satellites. Especially get the technology 100% prepared for G5.
3. Then make G5. A Gothic 5 can earn them ca. 20 EUR * 100k in Germany, plus the same again over the next two years. Then another 1.5M for an add-on and a few 100k here and there for Gold Ed., budget, etc. This takes a lot of time though. Key Accounts have long payment targets ...
4. = long term break even in DACH
5. Sell foreign licenses, one after the other. Use as many different publishers as possible.
6. Moneez!!!
The problem is funding. They need at least 5M EUR, even if the technology is 100% finished, all licenses paid and some of the pre-production work done. Marketing is expensive, new people have to be hired.
Some of this can be loaded off if they sell licenses to foreign publishers and only self-publish in DACH.