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I didn't realize it was being hyped at all. After all, I doubt anyone expects it to be that different. I also don't see what the point of getting a publisher making it on the Wii U would be. They can make much more money without a publisher, although a Wii U port wouldn't be a bad idea.
A good publisher would provide the funding and advertisement to make a successful game. SEGA was a very meh publisher, although I can see the risk in publishing a very indie company with mainly Movie, and TV show based games under their belt. SEGA just didn't do anything in terms of advertising and funding for Conduit 2. They did enough for the game to be made, but not enough for the game to be as good as it could have been in terms of quality.
Money can not fix a bad game. HVS is just bad at making original games. Plus no publisher now will help fund HVS for a game that is not a licensed game. Sega gave HVS a chance with The Conduit HVS made a very bad game. In the end with Conduit 2 Sega wanted to put the smallest amount of money and time into Conduit 2 that they could to get the game out and be finished with HVS.