I personally have no problem with a game company shipping late. Thats just about normal. It'll happen. Target dates are often just a wish in some marketting person's eye.
However, continually stating that it will make that date right til the last minute, in return for some clearly earned moolah, is wrong. Taking loyal customers along on that ride is wrong.
FWIW I hope they don't fail. I hope HL2 is great. I hope they make stacks of cash. I also hope they get the message LOUD AND CLEAR that bullshitting customers for money (abeit indirectly) is not good.
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I smell a revolution.