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Seems like MMO's get unveiled way too early these days. We've even gotten to the point where MMO's are being announced before a single line of code is written. Yes, I understand that some games are being announced due to funding efforts but that's another conversation entirely.
You almost never see games from other genre's being announced 2-3 years before an expected launch date, yet this seems to be the new norm for MMO's.
Blizzard seems to be the only company that doesn't let the cat out of the bag too early. They typically don't announce products until they have something tangible to show customers and in most cases, you'll probably be able to get your hands on a particular Blizzard product within a matter of months from it's unveiling.
Looking at games like Camelot Unchained, it seems like a daunting task to keep potential players (customers) excited about the game for what could easily be five to seven years of development.
I've been following the Repopulation for almost two years which seems like an eternity. During this time, my tastes in games and overall perspective on the genre has changed significantly. This has actually caused me to lose interest in the game over time.
That being said, I think game companies need to throttle back the marketing efforts until they're a little closer to actually being able to deliver a product.