REMEMBER CITADEL
Banned
I'm not sure why people are more excited (and expect more) about Halo 4 than about the next Bungie project.
One thing is about the milking of a strong franchise, the other one is about the people who made that franchise strong in the first place, now working to a new thing with full creative freedom.
I'm really looking forward to both, but a few rather obvious answers to your question:
- Halo is huge
- we've seen more of Halo 4 and it's a somewhat known quantity while Bungie's next game isn't
- it marks the return of Master Chief, one of gaming's most popular characters, after five years of absence
- it finally continues the Halo story which, yes, many people care about
- Bungie's next game is rumored to be going in the MMOFPS direction which isn't to everyone's liking
- people are afraid of Activision's influence on Bungie's game and that full creative freedom that you mention; it is supposed to be a (hugely) profitable ten year project, after all
- 343i houses a lot of serious game development talent and people are curious about their first game
- we have to pretend for Frankie's sake
By the way, "milking" has negative connotations so I wouldn't really apply it to Halo as all games released so far (and over the last few years there have been less Halo games than new entries in some far less popular franchises) have been great or at least very good.