Death Stranding (opens in new tab) exists and someone's played it. Good news if you were worried it might just be a collection of cool trailers and an IOU from Kojima, as he travels the world approving merchandise.
President of Sony Interactive Entertainment America Shawn Layden has played it though. So some working demo exists although, even after going hands on, Layden admits he "couldn’t explain to you what the game is."
Speaking in an interview with The Telegraph (opens in new tab) Layden confirms that the game is "up and running." Apparently using Guerrilla Game's Decima engine "really gave him a leg up and test it, and have some prototype levels running."
That doesn't mean it makes any sense though, which is where Layden's post-playing admittance that he can't explain it comes from. However, when asked if the game is 'as revolutionary as Kojima-San is promising?' he replies, after a pause, "all that and more!”
If you want more than catch up with everything we know about Death Stranding (opens in new tab), and there's also this, where Kojima admits even his own team didn't understand Death Stranding (opens in new tab).