To summarise, it appears that the 2022 Iona Fjords seasons is a much poorer Fjords cruise season than P&O had planned and on top of that, they have already committed to 2 more Iona Fjords seasons that will also have to have weaker itineraries. This surely make the cruises harder to sell so more competitive pricing will be needed to entice people onboard. I also guess that some will be using the flexible transfer option to change to another cruise and then try the Fjords on a different ship and/or line.
In some businesses heads would roll for this.