I'm not sure anyone has suggested unaffordable? A National Grid connection costs many tens of millions up front, and around half a million a year in annual service fees. It is big infrastructure.
It was written at the time that GBR considered there to be too many trains on the northern ECML for future passenger demand, and a "benefit" of GBR would be scaling back services through a whole-industry view. See Modern Railways. MM seems to have been a casualty of this rescoping, among other schemes.
That passenger numbers are now above pre-Covid is a moot point, and we are now in a different control period.
Regarding rapid change in other projects, I doubt this. National Grid contracts are committed many years ahead due to their timescales. Not a good look to change course, if maybe 10% of the overall electrification cost has already been sunk in Grid contracts, even if it saved money overall?