I honestly don't understand what people see in that Treehouse set.
It's... just a stage with three chairs and three tables. The stage is likely just a room on NoA's campus and the set design is as minimalistic as it gets - they didn't put up much of a decoration and they didn't even bother to hide the cables behind the Live a Live banner. The lighting isn't great either.
The presenters are just Treehouse employees and we know that NoA has an internal AV team, so all of the personell and equipment needed was in all likelihood already available. People say it looks expensive, when in fact it looks they simply used their already existing resources to record this.
And for comparison's sake: this was their E3 2021 Treehouse set. If you look at the ceiling, this appears to be the very same room and stage. But with the difference that back then they went through the effort to actually decorate the set with nice flooring, they hid the cables in the back with plants and the furniture doesn't look like they pulled it out of some office (rented?).
I don't understand why people think the Live a Live set was a sign of bigger things to come when it looks so much cheaper than what they did last year.