Ah. Team ICO's value to SONY is less about Sales is more about the creativeness. SONI is actually apart of alot of creative art unions( these are here Team ICO games get there non gaming awards) Teami is the Miyamoto or Yu Suzuki of SONY. They love to use tech in ways that show what the PS consoles are capable of while combing creative art and story. The collossi  were actually used as a way to sho what the PS2 could accomplish. They just dont up rez grapics and call it a day basically.

To sum up again. Team ICO is more than just a game developer to SONY

I honestly don't see why Sony keeps them around.

Yes, Ico and Shadow of the Colossus were great games, but in the end it is about money. It may not be that to Team Ico, but it is that to Sony, and you can't really make money on a game that spends 10 years in development.

I'm sure it has already sold its fair share of consoles but the game is still going to have to sell an insane amount of copies to actually make money. I'm positive this game will sell over 1 million when it's released and it might even sell 2, but that won't be nearly enough to make even a fraction of the money back on this thing.

they should just make it for PS4 as a launch window title.

Castlevania: LOS doesn't appeal to me at all.

They can take all the time they want. I rather have them going on until they can recreate their vision they way they intended instead of pushing to deliver some compromised version to appease shareholders and the impatient.
And it's not that the game is only in the starting phase because they're working on the engine. The engine wasn't capable to recreate the artistic vision, hence they needed help to build a more capable engine.

All the other artistic psn games you mentioned, yes they release faster and get criticised for being 2 to 4 hour tech demos. Not that I agree or have a problem with short games. But I'm sure you can see the difference in scope between something like Journey and Shadow of the colossus.

you can't deposit Creative minds into a bank account for a positive figure.... Sony is trimming everywhere to save money and a team working so long on a game that could turn out to be a niche artsy title is not going to be worth the time and money spent on it.

I think unless they already have something very stellar lined up for PS4 launch... they might be better served to repurpose for PS4 launch window while also getting a little more machine power to solve their technical challenges with the games scope/vision which has been so hard to achieve on PS3 hardware.