This is oddly how most all business transactions end, not just Hollywood.
I had a similar experience in ghostwriting a book and potentially starting a mutual fund.
I took the meetings, I exchanged all the emails, and I even signed the NDAs.
And I never heard from them again. 🤣
There was a baffling moment when Sonny Bono and his partner, Denis Pregnolato, who were becoming showbiz entrepreneurs, approached me at work and took me aside. Sonny and Denis had seen me perform—I don’t know where—and Sonny said, “Steve, we’ve been watching you. We think you are the next big thing, bigger than David Brenner, bigger than Albert Brooks. We would like to work with you and develop a show for you.” I nodded my excitement and never heard from them again, not one word.