Madeleine created nothing but bad headlines in the past five years. As she seems to be very happy in Florida I could imagine that she will call public appearances a day one day and just visit her family privately.
Plus: It would be a lovely concept and transition if CG and Victoria did some work together, getting Silvia and Dan into the boat when necessary. But because CG has the snake and CP there as well all the time it already looks silly - having six adult royals at one event? No other royal family does that. If Madeleine showed up now as well, CG would look like mama duck bringing all the kids out for a swim at a lake.
How did Madde create "bad headlines" - she has stayed away except for significant occasions and does not cost the taxpayer any money. She does not show up to something that she should not be at - unlike her brother and tacky wife
I would say: the past five years the Swedish press has piled on one shitty untrue headline about Madeleine and her family after another. The two years with corona limiting her time in Sweden has perhaps made her realise that no matter what she does, the Swedish press will use her as a prügelknabe and it’s just not worth it, especially since she’s well aware (unlike others) that she and her family are not part of the future of the SRF and also she has created a wonderful life on her own (unlike others) so she doesn’t need to go back either.