I don't think he's "milking" in the same way I don't think Oceanlab is milking. They're both artists first, game developers 2nd. LP keeps finding new routes to make and new ways to render, like his latest thing with the god-rays and wanting to make the best animations in the history of the world. Next, he'll probably want cinematics or go crazy with the new volumetrics Daz added. Adding more routes is particularly bad, as LP himself has said he struggles with writing sometimes.
Whereas Ocean constantly remakes things because he wants the best things possible for his game. Not to mention he is making 2 games at once, and has redone them both and still remaking one of them. Another comparison is Enyo, he's remade False Hero about 10 times by now and has never made a deadline (I'm not joking). LP doesn't remake things, he just keeps adding more and more stuff that drags development down the rabbit hole.
I fully expect the animator to eventually leave, or more likely LP will get frustrated and fire them (like he supposedly already did to another helper or two). But speaking of remaking things, you have to re-render animations sometimes, and since LP is the one rendering them, I wouldn't be surprised if he is already remaking one of them, hence the animation progress not moving and the teaser delay.
So, I don't think he's milking. To me, milking = doing as little work as possible with intent to prolong the development process. Or not working at all, while still taking payments. LP does the opposite, he keeps adding more stuff to work on. But I don't think he is serious about completing the game either. He knows this current pace is completely unsustainable. Or if he doesn't, he has horrible awareness.
Either way, this all leads to the same outcome. This game never being completed.