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The new mysterious title is already in "full-scale development", meaning the conceptualizations and environmental aesthetics are set. It is worth nothing that Yoshida said in past interviews that he feels the next Final Fantasy core title should be "straightforward fantasy, one that doesn’t have much machinery, and with no mecha in it", which certainly fits this new image!

I don't know what full-scale development means, but I hope they aren't going to go bankrupt again or separate the product to make up money they lose from rushing things. I am a bit worried by this statement, but full-scale development might not mean that it's actually being developed in engine yet. While they say this will be a fantasy without machinery, it doesn't really state the story is finished and those concepts are just as important as aesthetics. I don't know where they draw the line, but for me full-scale development means actual in-engine development, but reading that post I'm not sure that's what they mean.