Frank’s comment in the latest L.S. Dune’s interview sums up why we don’t have MCR 5
“I’m gonna be as honest as I possibly can,” he gives a cautious, lopsided smile. “When you’re in this line of work for as long as we’ve been, a certain sense of legacy and fear can creep in. Bands that have been around for a long time can become wary of taking risks and creating something new that might ‘tarnish a legacy’ or ‘disrupt a legendary status’. In this band, there’s none of that.”
Edit: forgot the link - https://www.kerrang.com/ls-dunes-frank-iero-anthony-green-violet-interview-cover-story