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Yes. Its all about hype and the right kinda hype.

And its common sense, sales are likely to be higher when your new game is all people are talking about.

If i were them, what i would do is first show a reveal teaser. No more than 20secs or 30secs. Then it really doesn't matter when i show the game again cause no one knows what it is. But they will still talk about it. Then show the game again with a 7-10min gameplay trailer that floors everyone and at the end put a release date no longer than 6 months.

The need will be real.

But announcing a game sometimes 2-3yrs before its released; thats just wrong.