If the reason for delaying it is for graphics, it ain't happening. I wasn't a fan of the graphics either, but visuals is the least of Halo's problems. 343 has had a problem with releasing completely broken and barebones games. Halo 5 has also gotten barely any playtime from me in a long time and I find myself still rocking MCC all these years later. They need to focus on replayability and player retention.
If 343 can nail the launch of Infinite with delivering a complete, unbroken package, I'll be willing to let what we saw yesterday slide. They really just need to fix the pop-in, broken/non-existent AO, and low-res textures. Hopefully that doesn't require a massive delay. We'll see.