Nonsense, they wouldn't announce it if they weren't making it.
Often what they show at these events is an early prototype, and release the actual product years later.
Take the PSVR for example, it was announced ages ago as Project Morpheus, underwent several prototypes and testing, and isn't even out yet!
If it were to be abandoned, they most likely would cease production on it quietly in the prototyping stage and either announce it quietly through social media or press statements.
Never expect to hear anything about products in their early stages, they are still being developed, and the company wants details to remain quiet should someone try to copy them or out the information early.