It is way too early to draw any conclusions, I understand that, but please bear with me in regards to where I'm coming from.
Game Freak are among my favorite developers, but they can still be very "one step forward, two steps back" in regards to starting their new generations (and even more recently, with same-gen games in general, considering how ORAS didn't include fan-favorite features such as X & Y's character customization). This is something we've all seen too many times for our pleasure: although Emerald ended gen 3 with a Battle Frontier, gen 4 wouldn't see one until Platinum; X & Y didn't bring over any of the facilities of B2W2, not even something as simple as its PokéDex Habitat List--and ORAS didn't even bring in all the features present within the games it was based on.
Maybe the two-year development cycle gave them the time to actually make Sun & Moon substantial in terms of gameplay features (and hopefully the story--please, Arceus, let it have a good story with good characters...), but I can't help but feel anxious. If the first games of a gen are known for lacking major elements of the previous gen's magnum opus, then what can be expected from Sun & Moon, when neither X, Y, OR, nor AS had any major facility or other form of content featured?
In addition to my own personal bias of wanting a "third version" to "fix" X & Y, I was also worried that jumping into a new generation too soon would just... not work out, in a sense. Because one of the common reasons people use to "justify" the first games of a gen lacking major features of the previous gen's final game is that "they had to work on all this new stuff for the new gen so they didn't have time to rework the Battle Frontier/PWT/etc." (which really isn't the best excuse, but since it's Pokémon I'll try to let it slide...). But that doesn't apply here. Gen 6 doesn't even have anything like that--the most substantial thing would probably be Contest Spectaculars, but even those are very, very simple, and they're really not all that challenging (I managed to make one of my Pokémon a Contest Star without much effort; I did all the different categories and didn't even have to change two of its moves each time...).
Like, I get why people weren't so fond of the idea of a third version. But... just because it's a new gen doesn't mean it's gonna be this majorly innovative grand escapade. They can't even use a new system to bring about "natural" innovation or progression. What I mean by that is, gen 4 was blessed by being on the DS compared to gen 3 on the GBA. They were able to use, for the first time ever, inherent (without the need of an external device) wireless trading and battles, Wi-Fi, and even sleep mode. People don't think of it much now but sleep mode was a huge thing, and it was only thanks to the DS that we have it--even the GBA SP didn't offer a real sleep mode! Alternatively, X & Y took advantage of what the 3DS had to offer, such as stereoscopic 3D and Streetpass. Sun & Moon are going to be on the 3DS again...so what else can they do? And while I'm personally sighing out of relief that the titles aren't New3DS exclusive, at least that would have offered some new possibilities with the strengthened processor and C-Stick (personally, I think a controllable camera, at least in the overworld, would be a great innovation for the series, but moving on...).
And gen 6 also ruins for Sun & Moon the possibility of some of the more obvious "advancements" they could make in regards to the core battle mechanics. Like, yeah, they could make another new Type this gen, but after Fairy-Type was just added in X & Y, it's gonna feel like too much. The reason why Fairy-Type was, for the most part, well-received was because the last time we got new Types was way back in gen 2. But making another new Type only three or so years later will feel forced (trust me, I played competitive Yu-Gi-Oh! when Xyz Summoning was first introduced; I've seen this happen first-hand).
A new gen is only "fresh" and "new" because it's set in a new region and has some new Pokémon. But that doesn't make it inherently good--lots of voices on this thread seem to echo the same idea: X & Y were a disappointment. And these were the games that brought the series into 3D for the first time. These were the games that introduced the Fairy-Type after 3-4 gens. These were the games that completely changed how we play because of the introduction of Mega Evolutions. And despite all that, the lackluster story, cardboard characters, and lack of overall content made them a disappointment. A good number of people seem to feel the same way even about ORAS (which is understandable since it falls victim to many of the same flaws as X & Y).
So, am I disappointed that we aren't getting "Z?" Yeah, kind of. Game Freak would have to mess up big time to make a third version worse than the originals. But, as we've seen, sadly it is very possible to make the first games of a new gen more disappointing than the previous gen's "third version." I'll reiterate my first words here: it is way too early to draw any conclusions, I understand that, but please bear with me in regards to where I'm coming from. We have seen this happen way too often in the past. These games have to have a substantial amount of content and an outstanding narrative brought to life by magnificently-written characters in order to make them worth it. There is absolutely no excuse this time.
X & Y could have been really, really great. There's a chance that these games will take cues from gen 2 and be connected to Kalos in some way, so there's a chance Sun & Moon can actually help X & Y in its own way. But, regardless of how it turns out, all I ask is... Please. Be great games. Give us the story and gameplay we dream for. Don't let the sacrifice of a potentially worthwhile end to gen 6 be in vain.