That's taking it too far.
While I agree that the way they've gone about things isn't great... well, honestly, I think just about all of it has been entirely off. But there is no reason to think they aren't actually working on a game.
At this point, nobody is asking for a screenshot, a feature, nothing. All people want to really know is what platforms the game will be on and what the release window is. If they just told people that very basic thing that pretty much no company ever hides this close to a possible release (what are they thinking?), everybody would be okay and understanding with them disappearing until April-May-June and re-emerging when the promotional cycle is ready to start.
When 2K was pushing out All-Pro Football 2K8, the way they went about marketing the game was so terrible that the bad marketing was making news headlines rather than the game itself, and then news headlines were being made about the bad marketing making news headlines... it was a fiasco. I see the possibility of this happening all over again and this article could be the beginning. They'd better correct this before it becomes a thing and they can do it right now before it's too late. Now is the time when not as many eyes are on them.
They have two options here:
1. Disappear until they have something worthwhile to tell us/show us.
2. Tell us what the basic cursory plans are (platforms, release window, game type and key targets) and then disappear until they have something worthwhile to tell us/show us about it.
If Joe is pulling the strings as it's been said, then it's time to group up and talk as a team to Joe about making some changes to how they're dealing with this.
Otherwise, the longer they keep dangling the carrot with this cryptic stuff and motivational twitter posts, the worse the backlash will be for them if the game is either not on the platforms their fanbase is expecting, or isn't the type of game they were expecting, or simply isn't as good a game as they were expecting.
Hopefully, this article and the posts here wake them up to this.