It's like two guys. Working on downstream of all things.
Find me a public code repository, a social , or some other cohesive piece of confirmation this is still in development recently, and I'll delete my comment.
Please don't delete your comment. I find it very annoying to follow a conversation when one party has deleted their half of correspondence. Here's a comment tgat suggests otherwise, seeing as they had a Stand on FOSDEM '24: https://forums.ubports.com/post/78315
An article about their changes in release cycle that suggests they're still updating it:
https://ubports.com/blog/ubports-news-1/post/announcement-of-release-model-changes-3920 (More Specifically, the first paragraph under the "What will happen to the current Ubuntu Touch OTAs based on Ubuntu 20.04 suggests they will be working on releasing 24.04 when that happens.
So that's about the "still in development recently".
As for "only 2 guys" a quick look seems to suggest you're right.
Regardless, if I had to switch to or at least try Mobile Linux, I'd be going for Postmarket OS, Mobian or Droidian in that order of priority as Postmarket OS seems to be the most popular and well-maintained of them all while also being the most cool and featureful one (imo).