Good point. I found this - https://www.pcgamer.com/the-future-of-kerbal-space-program-u... which provided a little more context, but I'm at work and can't really dig into the background or current state of Squad.

My hope is that whatever team builds KSP2 does it with some level passion and care, like the first few years of KSP1 had, and perhaps without repeating the same mistakes KSP1 suffered from.

The only concrete thing I could find on their website claims they were a big part of "Monday Night Combat", though the wikipedia for that credits it to Uber Entertainment. Their facebook is equally empty, with the only non-KSP post being that of a mildly nervous chihuahua. It seems they are a spinoff of Uber Entertainment best as I can tell.

As for the quality of Uber Entertainment, their later works tended to be unsuccessful, though they seemed to have some luck with VR.

For what it's worth Monday Night Combat was an excellent game

Per the official press release, Star Theory was formerly known as Uber Entertainment.