i think while mario+rabbids wasn't exactly on that level, the production values do come close to something like odyssey.
I agree but AAA to Ubi (or EA or Activision) isn't the same as AAA to Nintendo. Mario and Rabbids isn't Assassin's Creed or Far Cry. If Ubi says they have 3 AAA games to reveal I would not expect Rabbids 2 to be one. That doesnt mean Rabbids doesn't exist or get shown.
Given the kind of polls and Ubisoft aggressive approach, they were doing last year, I wouldn't be surprised if they upped the budget of the next game significantly.
This fiscal year should be too short timing wise imo tho.
Rabbids 1 from announcement to release was like 3 months.