The Last Guardian was originally shown 10 years ago, and has been surrounded by questions and controversy ever since. It has been so long since the games initial announcement that the "announcement" of this game has continued to be a running joke within the gaming industry.
This being Playstation's first game at their E3 press conference was a pleasant surprise, especially considering the trailer was a full-fledged gameplay demo.
The Last Guardian will be available on Playstation 4 in 2016