It's been as long as Persona basically. I think the only reason the wait might feel lessened for you is because of the amount of footage they've shown. Still feels like forever to me though, and actually I'm sick of seeing the game. I just want it.
Were those games routinely getting delayed? Go into almost any thread with a release window for a game being suggested and you'll find all kinds of posts to the tune of "lol," "inb4delay," etc. There's a huge cynicism about release dates. The thing you said "Game rumored, announced 2 weeks later at E3, releases in fall," isn't happening that much.
As for "what's wrong," from a marketing perspective, it would just seem that tighter release cycles like what happened with Fallout 4 would actually engender more excitement.
Look at other industries. Look at what Apple does with the iPhone. They sell a gajillion of the damn thing, and every time they announce one, the thing is available in like a week. There's no time for consumer excitement to die off. Games that are announced really early seem to suffer from two problems these days. They either fall off the radar because the team goes dark. Or they get shown so much that the magic begins to wear down. Like with UC4, I'm sick of seeing it, I just want it. The same is beginning to happen with Persona actually. I don't care about hearing about development any more or reading interviews or looking at anything. I just would like to have it. Again, Fallout managed excitement around their title excellently.
