That's very debatable. Everything points to the show being a hit (how fast they are adapting it and the source material is very fukking popular) and Studio Bind was literally created to animate the Light Novels and the people working on it are of stans Mushoku Tensei. They even took 3 more months to animate the 2nd cour of season 1 so it would look great and not fall off like the first cour.
It is true that the first 12 episodes of season 2 will be basically a SOL show, so there will be no doubt people shytting on it (if they shat on Vinland saga's masterful storytelling, this coming arc of MT has no chance
) but I don't think it will hurt it to the point of killing budget. At the end of the day, if the Studio is behind it, it will continue to get top treatment.
I think people have overblown that. It might be a step down but we don't really know yet. It's true they changed the director, but the dude that took his position was already working on the show as an assistant director so I don't think we'll see that much of a difference.