I remember hearing the game was not profitable, because once you buy the warband… that’s it. Yeah, you may get hired swords or a tiny expansion but… not the most profitable.
That might’ve been true for the original 1999 edition - it arrived at one of those odd transitional periods in GWs history where they were slowly moving away from the “Specialist Games” in stores and would soon almost limit themselves to [the then] the big three, Warhammer Fantasy Battle, Warhammer 40,000 and Lord of the Rings.
So really by 2001 its time in stores was up - like everything else in the Specialist lines it became a mail-order thing and eventually limped along with a living rulebook on the ancient GW website occasionally updated before all that was culled.
It never really had the chance to become as beloved as Necromunda (available from 1995, expansion 1996 and a second edition in 2001 with new models via mail-order).
It did have a big fan base though and is highly regarded as possibly the best skirmish game GW ever did.
So much so that modern Necromunda is said to have been highly influenced by its approach to Warbands.
So… would a new one be profitable? Absolutely! Look how they’ve milked the fan base for Necromunda since 2017! Expect that but called
Mordheim.
You want to carry six hardback books around to play a game? You want a solid years release of resin side-characters while most of the actual warbands are absent?
You want a weird new edition appear where you can’t use your regular terrain but your warbands can sail the seas before they quietly rest the concept without actually finishing it?
You want six-hundred cards to collect?
You want limited edition dice sets? Hundreds of them?
Oh they’ll make their money. By FOMO-ing unnecessary extras alongside rules updates which require you to restructure all your previous purchases every so often.
You don’t want that.