It sounded like a good idea when it came out, but it's pretty much been a recipe for games taking just as long if not longer then a non-episodic game to release fully and then you have the ones that didn't do so hot and will never get a conclusion. Tellatale managed to keep to a pretty decent dev schedule though quality ended up suffering in the long run and it turns out it was a terrible case of crunch non-stop for the devs and there's a few other rare examples of devs being able to make it work(Ubisoft is actually doing a decent job at it, oddly enough), but most of the time it's not worth it.
What makes it really awkward for me is that Kentucky Route Zero might be one of my favorite examples of something fascinating and wonderful marred only by the fact that it's been in dev since 2013 and is episodic, with 4 of 5 episodes released thus far and no word on the final act which will no doubt wrap the entire thing up. Each episode isn't too much more then an hour or so long, and it's been nearly 3 years since act 4 dropped. The only reason I'm giving it as much slack as I have, and even that has been wearing thin, is because the quality of what's there is amazing and it's a very small dev team.
But yeah, episodic gaming had it's chance and showed that most of the time didn't really solve anything. I'm annoyed that SE is basically going that route with the FFVII remake, which means we won't see the full thing for years, possibly a decade depending on how fast it takes to finish. And that's taking into consideration it was announced years ago. I'd much rather just wait till the eps are finished before committing due to these problems.