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Was the game not first revelaed at E3 2013? then sometime in 2014 they said it would be released lat 2015 (no firm date obviously)...

I don't think you can honestly predict how long a big project like that will take to complete (I don't know the exact scope, but since it looks "AAA" I assume it's pretty big) ... so unless you want half assed EA/Ubi style releases that have release dates set years in advance for their yearly productions (Battlefield, Assassins Creed, etc.) you need to give whoever is in charge of the project some freedom as to when they feel comfortable shipping their game....

A delay does not guarantee quality, but it certainly does not hurt.