I will try to be brief and straight to the point. I do think GW2 is in deep trouble or is going to be soon with the recent news about incoming layoffs. You see its not about a single thing going on, its more about assembling the pieces of the puzzle.
Here are a few reasons and points of interests (pun intended).
1. No expansion in the horizon, so we don't know when the next influx of cash is going to be. New stuff sells really good from what I know. Its kind of general behaviour, out with the old, in with the new.
2. 400+ employees and trying to recruit ex-blizzard employees via social media. As it is, the company only runs GW and they have all those people working in there. Do you need 400+ employees to make the living season episodes? Really?
3. Let's say they are working in other projects, for how long and how good are those projects? How it comes we don't know anything about it, I do understand the hype train is dangerous but for the love of god, at least tell us the project name.
4. If you have to trim down, then why cancel the new projects instead of taking some meat away from gw2 considering is kinda old. Again, new stuff sells, right?
5. If they do believe GW2 should be the focus and the only way to go, then what the heck is wrong with them... No word on any expansion and they keep turning away the idea of new races and classes. I guess they can't release a new expansion without making 9 elite specializations, which are like subclasses.
In conclusion, I am under the impression that ArenaNet is growing too much and is squandering money, they became some sort of elitist group within the confines of their offices. NCSoft had enough and now they are exerting their authority as publishers. Who knows if Anet accepted more money out of NCSoft for a new project that never materialized and now they put GW2 on the line.