I dont think that is true. First, I doubt if they took a break from it for a year that the team would spend the whole time working on the new game. So they would end up spending the same amount of time on the game anyways. Especially if they were working on DLC as well throughout. At least with the annual releases they can take out stuff that didnt work in the previous year.
I think some of the problem is that it is a WWE game and not a wrestling game. So instead of trying to build a great, fun, addictive wrestling game, they spend the whole time trying to make the game look as much like WWE tv as they can. The other problem is they seem to get too fancy with the game. I dont want to play mini games when I lock on a submission or go for a pin... or now go for a lock up. QTE are NOT fun especially not in a wrestling game. They need to keep it simple, but deep.
If they could create another VPW2 quality game for this generation then I would be all in for keeping that base and just adding moves, wrestlers, arenas, CAW options, etc. through DLC for the next 3 or 4 years.