I think the actual question is is this game coming out this year or will it be delayed? If we don't see any new footage of this, Dreams, and TLG until E3, I will start getting worried. :\ This is a massive new IP. It looks like they will focus on SP in the first title to ensure single player is good and possibly add MP on the sequel if they can make it work.
It's gonna be 2017. Did we ever get an official 2016 date for it outside of interviews in which they said they were hoping/targeting 2016?