Theres all the difference in the world between lying and being wrong. Valve thought they would release episodes every year or 2. They were wrong. You can complain that they tried something different once you also praise the video game industry for all of its grey-brown military shooters, because they are the one type of game that can be released to you reliably, and deliver exactly what they promise.
They also have been pretty open about not knowing when they would release the next game. Your criticism was misplaced several years ago, and is blatantly false today. They haven't said they would release episodes with that sort of frequency in several years.
While other people get criticized for releasing an inferior, flawed product, Valve has simply not released a sub par product with the intention and purpose of eventually releasing a great one. They have never wasted your time or money on such products, they just havn't taken your time and money for a great one yet. Fun fact: Valve wants to make money. If they havn't shit out a new episode in all this time when there is such high demand, its because they want to be profitable through loyal and trusting fans who want quality products. Maybe there dev cycle is too long. In the meantime, there are plenty of other games for you to play. Nothing has been lost.
Yes, Valve is being stingy with the info, and they have handled that aspect of things poorly. They could be a lot more transparent. But thats not worthy of hate, thats an over-correction of a legit concern. They know that predicting when a game will be finished is difficult, and committing to a date means that they might be forced to chose between releasing an unfinished game and disappointing fans on "release" day. Instead, they stay quiet. I understand the reasoning. Sure, Ill be the first to say that they could easily give a LITTLE information and solve all the problems, but theres a legit reasoning to what they are doing.