It's more like a hyped-> too long wait-> forget about it completely -> some new info sparks interested again-circle. I'm sure I'll get hyped again more close to release of either Bannerlord or M:BG.
And besides core combat I think both games will be much more different from each other than you think. Of course it will be also interesting how both will tackle exactly that - the core combat mechanics. Right now I fear Taleworlds is hugely underestimating combat mechanics details - and that besides much improved motion-captured animations combat will not be improved much. Hope they proof me wrong. Whereas M:BG in therms of money and equipment is certainly at a disadvantage I expect them to implement neat little features that will make combat much more interesting. Early alpha already had nice ideas implemented, though it felt clunky and not nearly releasable.