Sony still confirms that The Last Guardian is in development.

[Rafie]

platformmaster918 said:

people may be disappointed but they won't migrate lol.  It's a very small group of fans asking for it at every conference.  Sorry but this isn't nearly as important for Sony as you think.  Bloodborne and the Order bombing would be more harmful

Well it's not worth arguing over. I just see it that way. It's all good though. :)