"With the recent success of Telltale’s The Walking Dead video game, people are starting to wonder if episodic content is the future of gaming. Truth be told, even full priced games such as the Mass Effect series are pretty much episodic in terms of story. " | Explosion.com
Telltale was horrible about getting each piece out as promised, waiting almost 2 months on an episode was unacceptable, I'm not saying I won't ever play one again, I'll just play it when it's fully released.
So in short I'll say No, episodic gaming is not the future, at lease not in mine.