Man, I'm always really late to these GAF threads; I tried to sift through the responses to see if anyone has brought this up yet, and I dont' think anyone has, but my apologies if someone did.
Basically, my take on the Miyazaki situation is this:
When Bioshock was a huge success, the publisher wanted to cash-in on the name recognition as soon as possible, so they quickly cooked up Bioshock 2. The smart move they made was to hand this project to a new team, thus leaving Levine and Irrational free to take their time on something new.
So we got an amazing game in Bioshock, a good game in Bioshock 2, and (I'm still hoping) another amazing game in Bioshock Infinite.
This is what I see happening with Dark Souls II. It likely won't be earth shattering like Dark Souls, but it will likely give fans more of what they want, while probably adding a few things to court some players.
Meanwhile, Miyazaki has proven his talent, and has earned the privilege to take his time on a new project that will hopefully have the same impact has the Souls games.
Call me an optimist but for now this is what I choose to see out of this news. I honestly think this is the right move to make from all parties concerned.