My personal belief is simply that J.C. Staff wants to prioritize the main series. I see the first Sword Oratoria season as an experiment if they could pull another Index/Railgun franchise, and so when it didn't do as well in comparison, decided to just focus on the main anime (my other belief is they were using the season as filler to wait for the main series to release more LNs).
I can understand the hesitation since that first season wasn't as critically or commercially successful, but I think those first few volumes are by far the weakest part of SO anyway, so it's a shame there probably won't be more since all the future volumes are a significant improvement and would be great to see.