I doubt it - "Academy" was officially announced on May 30, 2023 (and was rumoured to be in development dating back to 2018). "Prodigy" was cancelled on June 23, 2023.
I'll grant that the dates are pretty close together, but I think in a perfect world the two shows would run together, with "Prodigy" targeting the tween crowd, and "Academy" skewing a bit older.
I think the problem is really Paramount+.
This, I completely agree with.
"Riverdale" is an odd comparison - like it or hate it, it was one of the most high-concept "teen shows" of all time. Absolutely bonkers.