Yes, it looks like Crash Bandicoot 5 was real, and it apparently would have featured the exact crossover you've all been wanting for years
Briefly

The latest report reveals that a cancelled Crash Bandicoot 5 was set to be a darker, lore-rich crossover with Spyro, featuring gameplay that allowed players to navigate both characters' worlds.
Though intended as a direct sequel to Crash 4, the game shifted towards a crossover with Spyro, promising unique team-up mechanics and a blend of classic and new villains.
The development of Crash 5 never progressed beyond pre-production due to unsatisfactory sales of Crash 4, leading Activision to pivot towards live-service games.
Despite hints of future plans for Crash and Spyro, the fate of these iconic franchises remains uncertain amidst shifting development strategies in the gaming industry.
Read at VG247
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