What is even the evidence that konami was planning to actually develop Silent Hills in the first place? In a time when PS4 still lacked strong exclusives it is announced that a new entry in the Silent Hill series is going to be developed, and what's more, the Dev team is full of celebrities! And of course, after they sell some PS4 the game is suddenly cancelled with no explanation, even though with that hype the sales were certain.
Think about it - they never disclosed the slightest information about how the game was going to be in terms of story or gameplay. The only thing we ever got was the Playable Teaser, and it was disclosed that it's just a proof of concept and it may bear no resemblance to the actual game! How strange! Almost if it was just a marketing ploy and they never intended to develop the full game in the first place.