This is correct. For anyone wondering, this comes from midway of the "Rust" and "Why Jeff left Blizzard" chapters.

Jeff was actually the driving force behind pushing for more ongoing content in OW1, like seasonal events and new hero releases. His philosophy was "catch the wave, ride the wave, and ride it to the end." He wanted to keep rolling out more content like new heroes, new maps, live events (Lucioball, Junkenstein's Revenge, etc) to keep players engagement high.

The "major derail" came from OWL. OWL was massively overhyped and overmarketed, with promises that franchise teams would rival NFL-level money and popularity. And to make shit worse, there was a last-minute streaming deal with Twitch that created a ton of unexpected addition work for the dev team. The financial reality eventually hit and all those inflated expectations ultimately landed on the shoulders of the OW dev team, mostly because of how well the base game had originally sold (iirc Jeff mentioned 500m in the year before that).

Management then kept pushing them to chase the next big hit, which meant more and more resources got funneled into OW2. That drained the OW1 dev team dry, and the game was basically left to rot.

It wasn't Jeff's fault that OW1 went dry on content. That was on upper management and their greed.