Sam_Tcould not agree more.
very disappointing, confusing news indeed, it simply does not look like MS had even working prototype of next Exchange version ready (last year as they 'promised'), if its now going to take them another 3 years to deliver anything. I guess by now MS was hoping that all Exchange customers like a good obedient sheep would simply comply and move to the dark site called 'the cloud' and leave the OnPrem Exchange in the dust (which by the way is never going to happened). And now we will have to continue using Exchange 2019 (which is getting older) with its bizarre and ridiculous memory requirements of minimum 128GB of Ram, which was a deliberate and specific move to upset more Exchange admins and try to force them to move to the cloud.
I don;t think there are any good Exchange guys left at MS that used to deliver nice, solid working Exchange product, very sad news indeed.
thank you