Quoted from Oldgoat:
It's a bit of a predicament. HW is obviously insolvent at the moment. They need to sell new games to cover their current liabilities (preorders). Regardless of how great the game is, there is a limited number of people who will buy it. To become a viable company, they have to produce new titles. Unfortunately, the time from game idea to full production is measured in years. So, they have to work on new titles now. While people may be pissed off at announcing the next title at TPF it doesn't change the reality that HW is spending time and $ on that next game. They really have no choice.
I think it's worse than that. The new money coming in is (in some cases at least) resulting in a game being delivered to that person, but people who paid much, much earlier, years ago in fact, are not being made whole at all and there doesn't appear to be any light at the end of the tunnel for them. The new money, whatever new money there is, seems to just about be keeping the ship afloat rather than building towards them clearing their order books pre and post-Andrew.
One wonders how big the pinball market is, or rather - how big is the part that isn't already acutely aware of HW's troubles.
You're right in that they seem to be in a position of needing to sell new games to be able to deliver older ones, and perhaps that's the logic with releasing a new game entirely. One wonders how much goodwill is left though. No one wants to have to imagine that their new money is going towards making good someone elses position, people understandably just want what they've paid for. Equally, if HW were to announce a new game how many people are going to be chomping at the bit - knowing what we know - to get in early when there is every chance that *your* game might not come to fruition until they release another game down the line.
This "delivery in arrears" mode of operating is very toxic to their reputation.