The Hollywood Reporter published an article today on episodic casual gaming.
While I may have a rather severe level of distaste for Ritual, I can't fault the business model in this case. The biggest issue for episodic gaming is keeping the costs down, and when you shoot for a AAA game, there are certain costs that accompany that regardless of scale. "SiN Episodes" was only a failure in that it didn't pay for "Episode 2," but it was one of the 15% of games released last year that turned a profit.
I wish MumboJumbo luck.