Ubisoft Singapore’s upcoming pirate title Skull and Bones has been delayed multiple times, and it appears that the game is not in its best state currently, according to images claimed to be from an in-development build.

The details:

Reddit user Desperate_Shock9830 shared three images of what are said to be screenshots from Skull and Bones taken during "some sort of testing done a few months back." According to the original poster, the screenshots were obtained from a confidential source and were taken without any form of watermarking. The user also claimed that the source has additional images of the game, presumably from the same period, and that they "might post more" if they can obtain them.
Ubisoft released a gameplay video of the game in January 2023, and it appears that little has changed since then, which is to be expected. However, the poster also stated that the project is "not looking so good" and that cancellation appears to be "more likely" than another delay. It's currently scheduled for release during the fiscal year 2023-24, but given the project's development history and these claims, we'd be surprised if we saw it anytime soon.
Skull and Bones was announced as Ubisoft Singapore's first title in 2017, with the project reportedly receiving direct support from the Singapore government, which is said to be the only reason it has survived. It began development in 2013 as an expansion for Assassin's Creed IV: Black Flag before becoming an independent project with a constantly changing direction, transitioning from an MMO to exploration-focused gameplay with a focus on combat to including land-based survival elements.
It was originally scheduled to be released in 2018, but it was postponed to 2019, then to 2020. Delays continued as it was announced that other Ubisoft studios would co-develop the game to provide support, and it was pushed back to the fiscal years 2021–2022, and then 2022–2023. Fans finally thought they'd be able to play the game when January 2023 rolled around, and the target date of March 9, 2023 hadn't changed until Ubisoft confirmed that it would be pushed back to the fiscal year 2023-2024.

More Ubisoft news:

Ubisoft announced that it will increase its Assassin's Creed team by 40% "in the coming years," including by transferring staff from other projects. Assassin's Creed has been a huge success for the publisher, and there are currently ten new titles in the works.
Ubisoft has confirmed the layoffs of up to 60 customer service employees in the US and the UK. Several employees claim that the layoffs occurred without warning or preparation, putting many in a difficult situation.
The publisher will host its own showcase event, Ubisoft Forward Live, on June 12. The company is expected to reveal some major releases, including future Assassin's Creed titles and Massive Entertainment's Avatar game.

Alleged images of Ubisoft’s Skull and Bones have been leaked