not surprising
less than two years since he left Konami, spent a good few months visiting devs to chat and look at engines, spent a while getting his team together. Obviously had a good idea about the game beforehand, but it is a long way off and another cinematic trailer would be underwhelming. Gameplay is probably very experimental right now and they don't want to show it only for it to be outdated in a few months, giving people a chance to complain later.
Still think both this and Last of Us II will end up being cross-gen with PS5







