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To be fair to SE, if I remember correctly they did say somewhere that the announcement was so early because they wanted to make the announcement meaningful instead of having it leak. I don't know if they will continue to put trailers out until they're fully focused on it, similar to what happened to FFvs13/FF15.
On the episodic stuff, I have mixed feelings. If they make it a 3 part where part 2 and 3 are basically expansions that come out each year after, that would be perfectly fine, and I wouldn't mind the added cost to get it early, but if it's 3 distinct games that maybe carry over saves like mass effect, I think that would be terrible.