Dude its not pieces like life is strange, they just named it episodic because its not sequels or spin offs, its just a name, they are making 3 full games, 3 different experiences.( i hope its not more than 3 ffs )
We probably will ahve to wait 2 or 3 years for each one ....
Imagine if ff10 and 10.2 was a full game on ps2, one story, and now they want to remake it and divide them in 2. on ps4.
That isn't at all what they said in the interview. They specifically said they wouldn't be able to fit the whole game into a single release because of the level by which they want to increase the quality of the content. They want to add vast amounts of detail that basically guarantees that development will be long, hellish, and will force the backlash on consumers, forcing them to deal with their game coming in pieces.
They have already essentially confirmed that you won't be able to go from the opening sequence to the final Sephiroth battle in the initial release. They have split a full game into episodes. It is episodic, much like Life is Strange, just with longer pieces.
It means instead of concluding in one entry, multiple entries are being considered in development. Each entry will have its own unique story. As a gaming experience, each entry will have the volume of content equal to a full-sized game.
That does not mean each will be a 40 hour RPG. That just means the content will take up a full disc. That is literally all it is. Each entry could be 10 hours long, and they could consider that a "full sized game". Until they are far more specific, people should really keep expectations in check about how much content, especially when they stated in their initial interview that they wanted to make the game so detailed, the only path was splitting it into multiple pieces just like an episodic release.
That statement is SE damage control, purposefully vague, and lacking in any real commitment to content past "if we consider it a full game, we did good enough."