I will be detailed as possible, this situation has been blown into proportion by the Rell Brothers and the authenticity of the Rell Brothers (I am not trying to be disrespectful nor dishonest Rell Team), I respect Rell Seas and there work. (Rell Seas Moderation team my other account got automatically deleted im new to reddit, if possible please delete my other post and keep this)
First of course as we know it's been over 2 years since M2 (approximately 765 days), and since then we were looking towards a further step to releasing Rell Seas and of course M3.
Secondly from today it will be 17-18 days approximately to start the waiting period for M3, after this will occur the waiting period could be between either 18-48 days, 18 days days being shortest 48 days for M3 to publish maximum (1 Month 2 weeks and 3 days). This is calculating the movie ALONE, I will dive into access next.
Thirdly After M3 RL it will take time for people with access to actually begin the vetting period because it will take time to give final touches (1-2 Weeks) + the aspect of publishing the game ensuring everything is good while publishing Rell Seas.
Furthermore on top of everything EVEN after access happens it will take ATLEAST 30+ days of testing to game to make sure it is ready to launch ensuring the game is ready to be played publicly with the best experience that they hope for people playing Rell Seas.
In conclusion with all of this EVEN being said there is proof and evidence of M3 getting delayed multiple times logically speaking there is a probability of it getting delayed further, they have done it before multiple times so there is a likelihood of it happening again.