I wouldn't go all in on that number, the guy who is reporting on it sounds like a legit guy, but without real confirmation, it comes like someone could have been misinformed. Some other industry type folks were talking about how the numbers don't make a sense, as it only had 4 years of development, a budget like that would be basically the same as Spider-Man 2 and Horizon 2 combined, but this a small scale multiplayer game, with a much smaller dev team than either of those. They certainly blew a ton of money for sure no matter what though.
I think a lot of the other talk sounds a lot more reasonable and makes a lot of sense, because no matter what the budget really was, this game got such a weird amount of support for no real reason. The idea that this will be a "future of Playstation" sort of game is insane for a game that was behind on the genre hype even when Sony bought them and such a bland art style for the game. It's actually funny, because some of the concept art they had for the game that I've seen, at least for a character or two, look so much better than what they went with, like the one big woman with the green puffy armor looked cool and then they went and made the lamest choices for her finalized look and I've seen artist come in and do legit redesigns that look awesome while keeping reasonably true to the original character.
I had realized I never heard of Hermen Hulst before this really, but it's crazy that this guy who was the co-founder of Guerilla Games and was at the head of the studio for games like the Killzone series and Horizon, and then ended up making such disastrous decisions with this one game. Wild.