The game was supposed to be released by end 2011 initially, there was the expected ramp up and presentations, then went into limbo with Ueda and a couple of producers leaving in the two years after that (Ueda is only an outside "consultant" on the game now and said in an interview a few years ago that he finished his part of the work). We don't know what happened but it certainly seemed it was shelved for a time or barely worked on.
French outlet Gamekult played a demo at the TGS and they're underwhelmed after playing only 5 rooms : framerate drops, bad camera and they say the gameplay feels a bit dated and the game felt vague about telling you what you must do.
Apparently the whole deal is that you climb on the beast and indirectly control it (jump on its head = it will swing it) to explore and I guess progress so there's quite a bit of "lag" and inertia built in, which may or may not be enjoyable. It lacks polish.
I guess more previews will come.
EDIT : Well, Polygon apparently have some concerns too...
http://www.polygon.com/2016/9/15/12914554/last-guardian-gameplay-video-tgs-demo-hands-onIt feels like a PlayStation 2 game. I love a lot of PlayStation 2 games, but in the decade-plus since that was my console of choice, I've grown used to such novelties as responsive character movement and a camera that isn't shitty.
It's not
all bad, but I guess it shows that stuff was designed wayyyyyy back then.
