There's only been one update since launch (I held off launching the game until 0.02 so there would actually be some adult scenes), and unfortunately, it did take about 8 months for 0.03 because I'm the only developer working on the game (in my spare time). I realize it's a long time to wait, but I can't really do much about that as I still have to work a job to help pay the bills.
I've toyed with the idea of releasing the chapters in smaller updates, but I'm not sure if it would work for the kind of game I'm making. There would inevitably be updates that wouldn't contain any adult scenes, and I'm not sure how that would go over with players. Besides that, I'm personally not a fan of the smaller/more frequent updates method as I almost always feel like there isn't enough content to satisfy me.
For some reason, I always think of this analogy when thinking of my development strategy:
Would you rather have a small snack every hour, or a giant meal at the end of the day?
Do you want to get a little taste and always be hungry for more, or do tough it out and get a big satisfying meal when dinner finally arrives?
It's honestly kind of a dumb policy for someone relying on the patience and good nature of their supporters, but I feel like it's better for the players in the long run. I could be wrong, and I may change my mind in the future, but for now, it makes sense to me.
Also, 'No comment' for any speculation on future story arcs, but I'm trying to make every future relationship optional. Right now the only relationships that aren't optional are Olivia and Ariana.
Sorry for typing too much but hopefully this helped answer some of your questions.