That sounds..... well it's their decision at the end of the day but... that doesn't feel right.
Honestly I'm all for it.
Think about how Sony initially announced The Last of Us Part II
when Obama was still President, and yet in the middle of 2019 we still have no release date. It's been an E3 staple since 2016. The hype train can only last so long, and while I'll still be excited to play it, any news on it has become, "Okay, whatever,
when's the release date."
You also have issues with games being shown far too early and being cancelled before we ever get to play them. Scalebound and Phantom Dust come to mind. Or the kinds of games that get an early build shown with fake effects to fill time, only to have a completely different game eventually get released 2-3 years later (Destiny, Crackdown 3, Anthem, Resident Evil 4/5, etc.)
I'm a fan of not formally announcing a game until it's going to come out within the next year. Announcing a game
is in production is fine (e.g. Metroid Prime 4, Bayonetta 3, Resident Evil 2) but trying to make it look further in production than it really is with a team dedicated specifically to a fake demo when the game is nowhere near complete is a practice that, IMO, needs to die. It sets expectations too high, puts unnecessary stress on the development team, and fills these shows with a mixture of stuff you'll actually play soon and stuff you may never play at all.
Apple doesn't show up to their yearly conference with an iPhone that'll release in three years next to the iPhone they'll release in a few months. (I assume anyway. I don't watch those things.)