Maybe this is like an iMovie or Final Cut situation, where they're building a new look and design first, then planning to add features back in a future iteration? Or do you feel that's being too optimistic?
They haven't been streamed 100% of the time, but they are quite often and it seems like more regularly as time goes on. I think the most unusual part is how much advertising they're putting out that it'll be a streamed event, and a big one. As Solipsism said, sometimes it's just a note the day before, or a link on their website that shows it'll be streamed. A countdown timer from 5 days beforehand really seems like they're trying to build hype.
They still edit it later. When Anki was shown at WWDC, the live stream showed the manager on stage had multiple issues with communications between the iPhone and the toy car. In the downloaded "podcast" version, that sequence is much shortened and it looks like just a few seconds of fussing before the device works. I remember being surprised at how long that guy took to get it to work - I completely understand that little glitches like that happen, especially with a brand...
I would have hoped for each release to be better than the last, rather than the next The return of the berry colours! It's about time. Although, we probably don't need a handle for the laptops anymore. If you have trouble carrying a 1.6kg laptop, you probably aren't old enough to deserve one.