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Wright said:

Man, I'd like to work at Team Ico. I would basically do nothing and Sony would have my back in case anything happens.

Team ICO was never a fixed dev studio, it's a project group with some constant staff, while most of the people just were assigned to the current project and then reassigned to others within SCE Japan Studios based on what talent was needed/available

game projects are started and stalled or canceled all the time, they simply announced this game too early, perhaps because they saw good progress and then ran into severe difficulties later on

Leadified said:
Well that's nice I suppose but something more than just a statement, like footage or a trailer or anything else would be welcome at this point.

imo they wait with showing new footage/reannouncing the game because due to it's history they want to be absolutely sure they can release it within 12 month of doing so