Originally posted by PakaNoHida:

A) New content
B) Fixing Crash Bugs / Lost Worlds
C) Both at same time

For me, it's more like this:

- Fixing Bugs / Optimising Code: 75%
- New Content: 25%

If the game is to receive Mistlands, Ashlands, and Far North one day, then I surmise 4-5 years (2025-2026) after initial Early Access is a good amount of time needed to release Valheim version 1.0.

DEVELOPMENTAL TIMES AS REFERENCE POINTS
- Star Wars Squadrons: about 3 years
- Mass Effect 1: ~4 years
- Sims 2: about 4 years
- Kenshi: 12 years total, 5 years in Early Access
- Rimworld: 5 years in Early Access
- Minecraft Dungeons: about 5 years
- Fallout 3: about 4 years with Bethesda, +2 years with Interplay
- Don't Starve: about 3 years
- Astroneer: ~3 years in Early Access
- Diablo 3: ~10 years
- Team Fortress 2: ~9 years
- Owlboy: ~10 years
- Valheim: Early Access for 15 months so far