Really don't have a problem with it. If it were some different circumstance maybe, but Yu was obviously coming to Sony for help and Sony said "look man, this is great, but a lot of people think Shenmue sucks or don't care about it, and after providing necessary funding ($40 mil 90's dollars) to make a legit Shenmue game, we don't think it would succeed." But since they respect Yu, they gave him a chance to show interest in the game, and even helped him out with the E3 announcement. If Sony thinks it's lukewarm, no harm no foul, if it does, Sony knows there's something worth investing in. It's investment procurement 101.
Yes, this is an obvious marketing move, but it's also a favor to one of the most prolific devs of the previous decade. In E3 literally EVERYTHING is marketing. That's why devs say "actual in-game footage" when it ain't, that's why there's fake voice chatter, and that's why people get pissed when their demo isn't running right.