A lot can happen in 4+ years ... I've had two high schoolers go off to college, and one is about to graduate.
As for WayTools, the problem is that when they announced the TextBlade 4+ years ago, they didn't tell everyone that it was 4+ years away from shipping. (They also probably didn't know that it was 4+ years away from shipping. Engineers can be overly optimistic, which is simultaneously both their best trait and their worst trait.) What we thought then was a "almost ready to ship consumer product" was actually (at least in retrospect) still in an early stage of R&D.
I'm perfectly fine with that (other than the poor communication). I know that the product is actively being worked to completion, even if I don't know what "completion" looks like. What other front row seat can you get for $99?