If it turns out in Book 3 that Kvothe was making shit up all along, this doesn't actually justify Books 1 and 2 being a huge waste of time, unless Rothfusss manages to completely recontextualize all the boring money chasing, hawt sex, cultural appropriation bullcrap.
When it comes to literary devices like "unreliable narrator", it's not enough to simply have a tweest, but to have the tweest enhance or accentuate the preceding narrative.
Rothfuss would have to be a pretty fucking amazing author to vindicate 1600 Fantasy Hard Cover™ pages of nonsense. At the same time, he needs to resolve the war plot introduced in the intermissions, resolve Chronicler's story, and Bast's story, and future Kvothe's story. Given these conditions, I see only a few possible outcomes.
1) Rothfuss manages to do everything he needs to do in Book 3 to render Kingkiller Chronicles worthy of all the praise and accolades it's received so far. This would make him one of the greatest Fantasy writers of all time, better at long-form storytelling than Tolkien (Kingkiller already has a higher word count than LOTR), more subversive than Wolfe, and far better at pacing than GRRM.
2) Rothfuss pens a 2000 page doorstop of a tome and succeeds at one or two things described above while failing spectacularly at everything else.
3) Rothfuess realizes he's way in over his head and extends Kingkiller Chronicles to a quadrilogy, or a quintrilogy, or more.
Again, I have to point out that nothing he's done so far indicates he's capable of 1), which means 2) and 3) are far more likely. 1) would only be possible if Rothfuss was not only using the "unreliable narrator" device, but also pioneering a hypothetical "unreliable author" meta-device by overturning my expectations of Kvothe as a character while simultaneously overturning my expectations of him as a writer.
As you can no doubt tell, I'm highly skeptical that he is capable of all the above, and fully expect Book 3 to peter out into nothing of note, or to get extended indefinitely like ASOIAF.
