I follow movies, their releases and media campaigns quite a lot.
I have to say there is NOTHING unusual from the fact that the campaign hasn't startet by now.
It just points to a more compact, efficient, "shock and awe" kind of upcoming campaign.
The push back doom & gloom talk is not called for, not for now.
And even if they push "MICHAEL" back some month, let's say to blockbuster/summer season, would only mean that they are willing to take their time to get the best movie & best result in every which way and would not mean doom & gloom either.
We've seen very different sorts of media campaigns from film studios over the years.
Long, drawn out ones, starting over a year prior. Those are very seldom and often the result of very different reasons.
But in recent years the studios may have come to the conclusion that a more compact & efficient media and ad campaign has more effect, creates more buzz in the decisive phase (3-4 month until the release date) than a early and long drawn out campaign. And IMO the studios have the right feeling about that: When you see a Teaser or Trailer 10-14 month in advance , you get excited until you realize it's still a year to go - then you forget about it. And so these kind of things fall flat more often than not.
Start getting the people excited in a shorter time frame before release! Keep the momentum going and don't take the foot from the gas!
Keep hitting with posters, teasers/trailers, interviews, TV-spots, pruction/sizzle reels, etc. ever more frequently, up until the release...
So that the most buzz is around the release date. That approach to me sounds far more promising than starting too early.