I agree it's noteworthy that they don't have any theatrical programming announced, or much programming in general -- but I'd guess it's just growing pains. It can't be easy for a new institution to build up a consistent pipeline of programming from scratch. I wonder if they put a lot of their eggs in their "premiere season" basket, and now have to begin the slog of trying to build up more consistent outside relationships and internal development. And on a more abstract level, they're probably trying to find what their artistic identity is, what their programming structure is, etc.
PAC reminds me of The Shed in a lot of ways, and The Shed similarly struggled to get into a rhythm right away (though part of that was the pandemic). But now I feel like their theatrical programming is a little more consistent, and they're establishing themselves as a kind of sibling to BAM, Park Ave Armory, and St. Ann's as a place for high-profile British transfers (plus some American productions like Here We Are) that don't want to go the Broadway route. It will be interesting to see what theatrical niche PAC carves out for itself in the next year or two.
Not to discount the fact that alarm bells might go off if they don't find their footing soon. But a few months doesn't quite have me worried just yet.