I haven't played it yet, but I bought it day one to show some love to the devs. I still need to beat Moss 1.
And while it definitely may have done better as a PSVR2 launch title, I mean, if the game is done, it's done. You gotta release it at some point, and there's not much incentive to delay a finished game, even if the sales of the game don't explode day one. The devs still need to eat, and releasing the game now means they can fully start work on their next project, while generating at least a little revenue from the current release.
They're probably going to do a PSVR2 update to the game when it launches, which may increase sales as people are eager to get software for the new hardware, but I understand why they'd launch it now, and on PSVR1. It has a solid install base, and I'm also sure that their analytics team and production team factored in the install base, the sales of the first game, and it's prospects when planning the game and budget for this one. Some games are slow burns in terms of performing well. Ideally, of course we love it if our games come out the gate swinging, but some genres and formats (ie, VR), are more niche markets, and sales projections are adjusted accordingly.
I don't know how large the Moss team is, but I doubt it's as huge as, say, a Naughty Dog or something. It's possible that whatever deal they inked with Sony was satisfactory enough for them, and their budget was probably manageable, especially if the producers and studio leads managed the project efficiently, and since this isn't their first rodeo with the Moss IP, development on the sequel might have gone smoother than development of the first (especially with the hard work of creating a game engine and gameplay systems is done).
I can't speak to the quality of Moss 2, since I haven't played it yet, but if it's a good game, I really hope it finds its audience. I only played a little of the first one and really enjoyed it, so my expectations for the sequel would be that it's just as enjoyable as the first, ideally moreso