So... by this logic, any movies that are part of a bigger story like LOTR and Star Wars could never be considered for best movie in any category because they’re not a complete story?

That’s as stupid as stupid gets.

It looks to be a full game, so it really shouldn’t matter. You are considering it to be “episode one”, but in reality square has made a whole new game and “episode 2” will really just be a sequel to what is launching this Friday

Does this really matter? It's just game, not a movie.

The only question regarding it’s content is does it warrant the purchase price

As a life long FFVII fan the remake isn't doing much for me.

1) I don't like episodes and paying full price for part of the game

2) Taking 5 hours of Midgar and making it 30 hours... tons of questions there.

3) The AI in the demo was awful, very dissapointing.

4) I don't like gameplay enhancements behind a paywall.

5) 100 gb per episode, GTFO with that nonsense. Learn to compress data. Not only is the game $60 per episode but with all episodes the full game will require it's own HDD.

I wonder how much the full game will cost, including all the MTX and extra required storage space.  It feels like Square wants me to drop $300-$500 on this remake.  No thanks.  I'll wait for it to hit bargain bin GoTY Collection.  

Edit

I also suspect via TLoU2, FFVII doesn't have a shot at GotY anyway.  

I'm playing the remake right now. I got a copy yesterday, It's amazing what they have done, the story is so fleshed out, im actually glad they went this route now, releasing it in parts was definitely the best choice. This is coming from someone who was bashing the episodic release. It definitely feels like a full game.

The fact that people continue to use the word episodic and compare Final Fantasy VII remake to Telltale games is beyond me.

This isn't Final Fantasy VII, it is the remake and it is a completely different experience than the original. Maybe they should have called it Final Fantasy VII reimagined to remove some confusion, but if you read any of the information released regarding the game you would know this.

Whether it is eligible for GOTY doesn't really matter. I myself don't mind for remakes like this, however if it was just a remaster but otherwise the same game then it shouldn't be eligible.

Saying it feels like a full game will mean something once you've actually finished the game. It's already been said here it's 30 hours, but I don't know if that's just rushing the main game, or even how many extra hours are in the game outside of the main story.
I finished Final Fantasy XV first time in ~40 hours, but I skipped a lot of side events just wanting to get through the game. Some people I saw streaming the game at that time had over 100 hours and hadn't even left the main island yet.
If FF7R ends up being a 30 hour game with maybe 10-15 hours of extras, I'd find it hard to consider it a full Final Fantasy experience. Especially in an age where most modern JRPGs are just getting bigger and more fleshed out (Xenoblade, Dragon Quest XI, Persona 5, even FFXV).

I won't instantly hate it if the game ends up being that short, but if they're gonna be cutting that much content compared to other games of the series/genre, then every other aspect of this game would have to be pretty damn transcendent to justify it.

As for the actual thread topic, I think the rationales of 'it's a remake so should instantly be disqualified', or 'it's only one part of a full story so should instantly be disqualified', are all petty and boring. It doesn't take much to see that this game is a very different experience compared to the original FF7; even compared to other large scale remakes, this game goes so much further that it's a legit question to wonder if the term 'remake' is still valid.
So it should be logical to say that if this game is a unique enough experience, and meets every other criteria for a GOTY contender, then it should be just as viable as any other game this year.

bigger = better = consume more content

Bigger isn't always better. I get people claim it is a full game because it is 30 hours. But 30 hours of what? This could be a home run, it could be a bunch of silly time consuming fetch quests. It could be like MGS where half the time is watching as opposed to playing. I'm waiting to see how it turns out. I'm not convinced. I can't stand filler material in videogames. Quality trumps quantity every time. How did Square take 5 hours and make it 30, that is the question.