Tho unlike your previous updates this one doesn't seem to be getting any closer to being "ready" for quite the long time.
But who knows maybe in 2 more years it will be finally ready.. That assuming the "best case scenario"
At this point i would personaly prefered if the update ended up as actual small crossover with Dead Cells like it originally was to be long time ago + QOL stuff attatched to it.
And rest of the large potion of the "content fluff" added later "when it's ready" in another update. One can dream...
To clarify the teased QoL changes is the thing i am mostly "impatient" for.
As most of these are downright game changing. In a good way, fixing some of the long standing annoyances Terraria has.