I didn't play when monthly updates were a thing but from what I can tell they were just big updates and then filler updates in between. We still have monthly updates, but more discreetly. While we do have seasons, every month or so we get a new (filler) adventure and maybe an emporium update. Adventure are time-limited, so after they are done it is just developer time being wasted, as it is gone. The lore is gone too, making it impossible for newer players to understand lore without YT.
I say rare should bring back Tall Tales. With all of the adventures this year they could have easily been redirected to at least a tall tale, probably two. I pray that Flameheart's return won't be in an adventure. Bring back tall tales and scrap adventures. Also, Tall Tales need to be more discoverable. Most of the tall tales are only completed by 10% of the player base. That is only 5 times more the 2% that means that it must be removed.