Where did you hear this rumor from? Have a source?
From a friend,
who works at one of the biggest gaming website in china as a senior editor (SRW is a lot bigger there than probably anywhere in the world other than Japan itself)
As for concern about it not being as good, here's my take on it.
The game def grew on me, I didn't like it as much at first, but I like it more and more as I played on.
Z2.1 was released APR 2011, 2.2 released APR 2012
Z3.1 came out this time APR 2014, so by trend Z3.2 APR 2015?
They had 2 years working on it, maybe they have planned things out and made things half way for 3.2 already? who knows. (But Z1 was released some times in 2008 if I remembered correctly, gap between Z1 and Z2.1 is only 6 month longer than Z2.2 to Z3.1)
To be honest I hope it come out in OCT this year, Z needs to finish. Then we will all be in withdraw for filler entries until the next big thing comes out (which will be 2017 for all we know)