I do not see this as being promising news, Netflix would not want to wait 3 years for new episodes. If Prodigy was being picked up for season 3 then I am sure that it would have been part of the Netflix deal? However, as the team behind Prodigy is still ‘dissolved’, I read this as meaning that the show is probably ending after season 2?
Perhaps season 2 leads in to the live action Academy series?
The Hagemans and Waltke have explained several times that the deal with Netflix is to stream season 1 and 2 (and the latter is already a major win for the producers, the fans and for the audience that is discovering Prodigy only now) and that a pickup for season 3 (or another form such as an animated movie) is not out of the question but depends entirely on the numbers that it is doing now on Netflix and will be doing for season 2. And if Netflix figures' are such that it makes commercial sense to order some form of continuation, together with Paramount as the producing company, they will do so. If not, they won't. This hasn't changed.
It has been clear for a long time that the Hagemans wouldn't be able to keep the team they assembled together, pretty much since P+ announced new seasons ordered of Lower Decks and SNW while only saying they would air Prodigy S2 (which they eventually didn't). That was the time to continue production, by not ordering season 3 an inevitable gap in production would arise. Due to the long 'pipeline' in production for such an animated series, writing the S2 episodes was already completed by february 2022, nearly two years ago. Writing has to be locked early on this type of show, because the whole process of animation takes a long time to complete and there is no such thing as a reshoot. That's also part of what makes Prodigy and Lower Decks good: they have to plan, unlike live action series where the producers can change things almost at the last minute, even changing showrunners mid-season.
It's clear Prodigy S2 won't be a lead-in for Academy, the Hagemans still hope to continue with their own story and characters.
Netflix may want a new team.
I don't think they would want a new team, it's just that keeping the old team would be impossible when most had probably already left well before Netflix picked it up and there was still no new order.
If the Hagemans can more or less reform the old team, they wouldn't say no, I suppose. It's the norm in the sector that everybody is working on multiple shows/project at once, which is a necessity when most projects never get picked up and shows get cancelled early regurlarly.
So the danger, if Netflix even orders some form of continuation, would be if they fail to get key figures like Ben Hibon, Aaron Waltke and the cast back (Ella Purnell's career seems to have taken off, so maybe not so evident to get her back). They would also need to re-book the Indian animation studio that is doing Prodigy, which could be problematic if they would get plenty of other work in the meantime.
We don't know what Netflix will do. They are likely weighing the viewing options and data, and they don't have all the data since, and this is the important part, season 2 hasn't aired.
All the data is not in. We do not know how Netflix will react next. So...it's only a waste if fans and audience members give up on Prodigy as quickly as they do. And given the vapidity of attention spans in popular culture it wouldn't surprise me if people gave up on it because of such news.
The large majority of the potential audience will never even hear it nor be interested in it, so I doubt there will be an impact. The Hagemans have developped spin-offs of their own animated show on Netflix before, and I'd guess that also involved some major personnel changes. I've no doubt they can do this if the numbers are such that Netflix is willing to go for more.
More may be a season 3, but potentially with a different structure (say, if 10 30 minute episodes may bring in the same amount of viewers as 20 22 minute episodes and cost less to produce while increasing quality per episode, they could do something like that) or it could be a Netflix animated movie. 3 years on and without Nickelodeon involved, maybe the audience expectation could shift as well.