The game’s original release was set for May. 3, and is being held back due to Naughty’s Dog’s standards of it wants the game to be.
“As we entered the final phase of development for The Last of Us, we came to realize just how massive Joel and Ellie’s journey is. But instead of cutting corners or compromising our vision, we came to the tough decision that the game deserved a few extra weeks to ensure every detail of The Last of Us was up to Naughty Dog’s internal high standards.” said Druckmann.
The delay isn’t causing the game to be held up for long, and in light of games like Grand Theft Auto V being pushed several months until September, this really isn’t that bad. It looks like the general consensus from fans is, take the time you need Naughty Dog, but make sure the game is good.