You all do realize that, while the game is a multiple sequel and obviously there will always be elements that only long timers will be familiar with, the fact the game is completely inaccessible to newcomers is another massive flaw, right? You cannot in your right mind ask someone to go play MGS 1-3 to understand 4, it needed to be done better to both appeal to new fans and old fans alike. But like someone already said, MGS4 was basically fan service.
And no, skipping the cutscenes isn't an option (on first playthrough) because A) you have no idea how long they will last, might be 30 mins, might be 2 mins, and B) the game is already enough of a jigsaw puzzle, you need to watch a lot of them to understand what's going on and the relationships between the characters. I thought this was obvious, why would you skip the cutscenes if you want to understand the story?
The truth is the cutscenes needed to be edited. It's like a movie, if a movie last 4 hours without reason it will be ripped to shreds by critics as needing editing and tigher direction. There's no reason whatsoever for the overblow cutscenes in the game, other than fan service and Kojima's megalomania. You could tell the same things in MGS4 with half the cutscene time.