Why? I mean, SE's failed attempts at owning their own technology stack during the PS3 generation are the single biggest factor behind the catastrophic failures during development of XIII, Vs XIII, and XIV.
Which is exactly why I have more faith in Luminous. SE can't be dumb enough to invest so much money into yet another propriety engine without researching and reworking how they go about creating engines and tools knowing full well how crap and disappointing Crystal Tools was. They did research on UE3, CryEngine, even went as far as bringing in westerners to help create it.
Another thing is Crystal Tools ended up being tailored to XIII's corridor-ridden environments and game design, pretty much ruling out its compatibility with Vs XIII and XIV's more open world design without significant engine changes to keep the same graphical quality and performance. Luminous is being created to support a vast open world from the start, while still featuring some rather advanced graphical features you still haven't seen in other open world games, even ones using UE4. SE also only recently switched FFXV to the full Luminous in 2014, and since then we've gotten a rushed playable demo earlier this year that still runs as well as, if not better, than AC Unity.
UE4 was in development for how long, since 2003? And Luminous probably started development around or after XIII's release in 2009? Since Luminous is still incomplete I'm not sure why people are so surprised KH3 switched engines. Luminous just didn't have enough tech support for them to be working on 2 games. SE even had problems rendering images for KH3 with UE4 and had to rely on Epic Games' support. And let's not forget FFX, FFXI, FFXII were great looking games that ran incredibly well for their time. It's weird people judge SE's competence in game engines just on the Crystal Tools screw up, when considering even a genius like Carmack can make mistakes like he did with id tech 5.
Whatever helps Japanese developers pump out good games on home consoles at a better rate than last gen I'll take it. I'm positive FFVsXIII would've come out years ago were it not for the damn engine. Same thing for MGSV.
Hopefully this means that DQXI will not take forever to come out.
MGSV actually has a very good engine. It's long development time is largely from having to create the new engine from scratch.