Personally I feel that people are underestimating XV. I'm not sure I've ever seen hype for an upcoming FF title at such a low before in all my time as part of the fanbase, and I don't think that based on what we've seen and been told about the direction of the game that optimism should be this low. However, to be completely fair, we have never seen a Final Fantasy with a development quite like this. The changes, the shattering of what Versus was and marketing has managed to do a lot of damage to more fans than I'd like to admit. While I've been really pleased with the open way things have been conducted and with the smaller scale updates, I understand from the reactions of the rest of the fanbase that I may not be in the majority. This is a shame because I'd really like to see more stuff like this outside of the big presentations, but it doesn't seem to be an effective way of interesting most folks.
Just my two cents, but I think when XV starts strutting its stuff in a flashier fashion a lot of people are going to be shocked at how much they like what they see. I'm eagerly awaiting March for that very reason because I dearly miss the positivity. For the time being I try to look at the muted reaction of fans as a good thing. I've seen hype destroy impressions of an otherwise good game just because no game could ever meet such inflated expectations, so perhaps what's going on now will turn out healthy for XV after all is said and done. For those of you who may be feeling disenchanted I really do hope you join me again when there's more of substance to see.