If they announced it in 2017, then I guess three years is not as bad for a modern game, if we're talking of a 3D experience with realistic graphics and physics. To be honest, I didn't know such a game was being made so I might be way off in what I am imagining it will look like, haha.
If even next year they don't really have anything to show other than the announcement of the delay, I'd agree it might be looking like internal conflicts within the company and possibly a very underdeveloped game.
I too hope the game will be good and actually more than just grabbing the title. I hope they can incorporate things well to suit gaming ina way that doesn't feel forced, out of place or just more tedious than entertaining.