Great news! If it's on GOG.com it will be even better.

https://www.pcgamer.com/torchlight-frontiers-is-now-torchlight-3-will-release-on-steam/

https://www.arcgames.com/en/games/Torchlight_3/news/detail/11350673-announcing-torchlight-iii

woohooo yeah!
I never thought that this would happen - thats great!

I'm guessing Torchlight 3 may end like Torchlight 2 - it won't be available on GOG on release date, but after few ywars.

Yeah, I have the same feeling too. IMHO, the unveil of Diablo 4 got them spooked so they decided to overhaul to whole thing. Hopefully the game launch will be alright. Summer is rather quick for changes of that magnitude.

I wouldn't consider it a bad thing. At least we'd get a fully patched and working (hopefully) version, not the usual alpha/beta/RC. :]