I think a lot of people are worried Nanite and Lumen might be UE4’s SVOGI, something that never materialized into an actual usable feature. But I don’t believe Epic over hyped or over sold the features. They got them into developer’s hands at least 8 months before release, there’s been 3 tech demos pushing the features further into real game like projects. The first demo did seem very marketing and proof of concept focused, but since then it’s been pretty clear with their communication on what the features are and their limitations currently. At this point any lack of communication is probably not to over promise and under deliver and focusing on wrapping things up.
Personally I think it’s great Epic got Lumen and Nanite into people’s hands very early, and we don’t really need an update on them until the full UE5 release, unless you’re planning on shipping something within a year of UE5 releasing. They are usable enough, the biggest pain points are broken existing systems or them not being as fleshed out as other features.