I went through 2 interview rounds and provided 2 references, who confirmed to me that the hiring manager did call them for a reference check. A few days later, the hiring manager told me they were having doubts about filling this role for vague reasons. However, they advised me to get in contact after a month (despite already completing my reference check).
When I eventually followed up, they gave a vague response about not being ready to hire internally. I can't understand why they advertised for this role in the first place and proceeded all the way through to reference check when they were having so many doubts and internal issues.
Regardless, I still found the application and interview process positive as it proceeded at a good pace and they made sure I understood the job description. However, I would've preferred if they were more transparent. They should have told me directly that they did not want to progress to the next stage with me or that I was not suitable for the role.