From where does your information (that nothing's been "designed" for OLC to approve) originate? I thought I read in a press release that the initial plan was to break ground in early 2016 which means design would have been happening for 2+ years prior (and before any public announcement).
Key art like the Greg Pro piece below isn't early brain-storming or blue-sky conceptualizing:
It is produced after initial program development, site-planning, early schematics and some modeling. So a good amount of design has been done, just by virtue of the timeline and this kind of art. Construction blueprints come after the final green light and are done by 3rd party architects.
It sounds to me like this massive project was in the feasibility or design development phase (maybe they don't have the manpower to complete these phases, I don't know) when something changed (cold feet?) and OLC has decided to rethink (scale down) what they want to do.
Mark Twain posted WDI Asia is laying people off due to this scale-down which doesn't jibe with the lack of Imagineers.
Regardless, the delay is disappointing.