I work in Software development myself and this type of twist is actually not uncommon when you are developing either a totally different platform or brand new product. In this case I think FM25 probably comes under the former category - brand new platform.
There will always be lots of twists and turns, especially in an agile environment. Decisions made on an almost hourly basis that can change the course and direction of the product.
The studio director cancelling his trips to be 'back at base' sounds drastic and as if the proverbial is hitting the fan but that might not be the case. It might be a simple case of a few deadlines being missed and it might well be a proactive move to ensure it doesn't. It's bad for Miles of course but it might end up being very good for the product. SI have some very experienced people at the top that will know the warning signs of a project starting to get squeezed.
It's frustrating for the end user that some smaller features are being cut for this version but again, that is par for the course when new platforms are developed as frustrating as it is. Trust me when I say this, the frustration on the inside will be ten times more than the end user. All software companies are disappointed when features have to be cut, it is always done with a heavy heart but also with one eye on the quality of the product.
All I'm saying is don't write things off just yet and let's not jump to conclusions. I've been involved in some very tough projects in my career that have had many more features cut than this and it has been a success. I've also been involved in projects that have seemed easier, more feature packed and been a disaster.
Keep the faith!