Not sure if it was brought up at MAGIC this year, but the trial version was touched on really briefly at Gamescom when Famitsu talked to Yu:
Q: I'm curious about the timing of the scheduled distribution of the trial version [reward] to backers...?
YS: Regarding the trial version, I'd like to spend time considering the best form for it to take. Ideally, I'd like it to be something along the lines of the trial version for Shenmue I.
So as of last August the intention to do it still seems to be there, and I wouldn't be surprised if we hear more in a couple months. As priorities go though, clearly the main game is more important and work on the trial version will probably not happen until systems and content start locking down and VO sessions begin.
As a hypothetical, if it didn't happen I wouldn't be too burned even though I did intend to play it. If they didn't do it, there must have been a reason. I don't think a lot of other people would take a live-and-let-live approach to it though, it'd be easy fodder for clickbait games journalism, angry YouTubers, forum posters, whatever. A lot of people would conveniently forget Kickstarter pledges are donations and reward fulfilment is subject to best efforts, and treat it like people have been scammed or tricked out of money/a promised item.
Even if absolutely in the best interests of the game and team to cancel the trial version, the PR repercussions would be fierce no matter how carefully and considerately the situation is explained. It's a catch 22, and I hope Ys Net doesn't find themselves in this position.