Yes I agree development speed is slow, but LFS is what the devs do in their spare time. It used to be a primary job, but that was back in the days when there were progress reports every month and updates were much bigger back then.
Idea of an update back in the ol' days: Blackwood/South city facelift, FBM, New interiors for XF/XR cars
Idea of an update today: Asian translations, shift light removal, little grey arrow in the pitlane, new car shadows which are pretty much the same.