I'd be more inclined to agree if this was any other game, but this is Final Fantasy VII -- this is the game that made these people legends and respected in the gaming industry. They KNOW how important it is to nail it, that's why they pulled all the old guys back together again in order to get this right. Even Nobuo Uematsu who left the company years ago is overseeing the project, so they know better than to not mess this up. Final Fantasy XV took as long as it did because Square Enix has terrible management policies and had Nomura working on three KH handheld games while also working on Versus XIII, basically was canceled, and was resuscitated as FFXV because they needed a new mainline title out soon.
Remember what happened to Final Fantasy XIV 1.0 and how bad that was for them? If this turns out to be terrible, the results of that are going to be even worse. I get what you're saying, but I would hope that from now on, they've learned their lesson because they could've had tons of games out the door had their management been better AND they don't force devs to go change an engine in mid-development. Now that they're using Unreal Engine 4 from now on (except for one team), there shouldn't be issues in terms of time. It's a bad reputation, and they have to be aware of that. They seem to be, because now they're restructuring again. So I guess we'll have to see.
I think the only real way for us to know where this is gonna go is what they reveal in June. I highly doubt it's going to be 4+ parts, because that's excessive and most people aren't going to be down for that. Not to mention, multiple generations would just piss people off. As well, it depends on how they split the story up. At most, I see Part 2 and Part 3 being on the PS5, and Part 1 getting a remaster on the PS5. Since the PS5 will be able to play PS4 games, you can also just play your original copy and then play the others when they release. Like as much as people hate on Square, they're not THAT incompetent. At least, that's what I'd like to believe.
4-5 years is actually the average development time for games these days, so this isn't really a bad thing. It only feels as long because they announced it too early, and then went completely ghost on us for years on years until now. They're not making these types of games in two years. This is also under the assumption that they're not making all the parts at the same time and carrying over a ton of assets. But if it took 6 years to get every game out, worst case scenario, that's 2025. If the game delivers on everything, would it not be worth it?
In the end, we're gonna have to wait and see what they have planned in June, and I think we're gonna hear a release date sometime next month. The fact that they've said "they have plans up to launch" tells me that this game is really close to it being out the door. With the voices also being synced to its proper language, that tells me that a lot's been most likely done already, so it's really only a matter of time.
What people don't realize is that KH3 also had to restart its development because of an engine change, so it lost a year. So theoretically, we could've gotten KH3 early to mid-2018. Once they made the switch to Unreal Engine 4, they didn't seem to have any issues and development was running along smoothly. And that was an upper management decision, it wasn't up to the devs or Nomura himself.
Nomura's just cursed with troubled game development cycles.
Honestly, the episodic idea isn't even that crazy of a concept, because think of it like how they do Star Wars for a saga. Every saga has three parts to it. You don't go to Star Wars IV and think "Yo this shyt is incomplete, where's the rest??" or watch Attack of The Clones and go "This should've been in the first movie, what a waste of $15.
" They've said time and again that it's going to be full-length games for each part, comparable to the FFXIII series, and those games were pretty big, despite how people feel about the story. People use the argument of "Yeah, but FFVII had all of its discs together at launch, they didn't sell it to you disc by disc." That's true, but FFVII wasn't recreating anything. The CD format could only hold so much, and if CDs had a bigger capacity back in the day, they'd have shipped it in one.
Something also to keep in mind too is, just because they said parts, doesn't mean they'll necessarily be shipped out at different times. They very well could all come in the same case, but each disc acts as its own game due to size and capacity. Is it likely? Probably not, but that's the thing... We have no idea what Square plans to do yet.
And as well, it gives people something to look forward to. They've said that while they're keeping the story scenario overall the same, there's probably going to be scenario changes here and there due to how the world is now and also due to scenes not translating as well with fully-3D models. (Same reason why Nomura axed the wait-based combat system.) So they're not gonna do something like keep Aerith alive, because that would completely undermine the entire story and what the message was, but they might have situations occur like AVALANCHE survives. Or you fight some bosses at different times like the one in the Shinra tower.
Also... During the release times, they could also consider doing episode releases for DLC, stuff that wouldn't fit in the game's main scenario like an AVALANCHE DLC, or even maybe stuff with the Turks. There's a lot of opportunities they could take with this. Give people something to do while the next entry is on its way out. People might complain about it being "milked", but as long as it's nothing that could've been in the main games, I think that's an idea that could work.