I don't have a huge issue with LoS, but as a long-time fan of CV, I have a difficult time accepting it into the franchise. Taken by itself, it's a good action game, if a bit linear. But compared to heavyweights like God of War and Bayonetta, it doesn't do anything especially innovative for the third-person action genre. And since it also doesn't fit into the existing Castlevania timeline, it just makes the whole experience feel a bit pointless. Nevertheless, it manages to make respectable nods to other games in the series. LoS2 promises more non-linear elements, which may satisfy that Metroidvania level design that fans crave, but I'd also like the combat mechanics to be more intuitive and responsive. Knowing that LoS is a limited spin-off that will end after one more console title and a handheld release makes the shift in direction easier to accept on some level, but for the same reason, it makes me feel like there's no need to get invested in the whole thing. In short, LoS is not bad, but it doesn't offer enough in either direction (hardcore old-school fandom vs innovative next-gen action) to win unanimous support. That's why it has become such a debatable entry in the series. Am I right?
Secondly, as for the art style debate... For years, I have wanted to see the games move closer to Ayami Kojima's artwork, whether that meant more detailed 2D sprites and more frames of animation or 3D models with stylized textures and cel shading. I used to be a much bigger fan of anime in the late 80s to mid-90s, but the contrast between AoS and DoS in their shift from Kojima to anime (even within a single story arc, for crying out loud) was too stark to ignore. It especially sucks because DoS was among the best CV titles for its gameplay. I thought LoS did a respectable job of visually representing CV's classic aesthetics, as you could almost imagine it as the next-gen evolution of Super Castlevania IV, but even so, it still slipped backwards towards a more generic medieval style. The anime style is a bit generic too, though it's on the opposite end of the blandness spectrum. That's why Ayami Kojima's style, which mixes realism with Renaissance artistry, Victorian opulence with a hint of anime edginess, works so well for Castlevania. After all, CV was created by the Japanese based on Western inspirations, something that Kojima's style conveys perfectly.
Finally, I do not believe that fans totally control the direction of Castlevania, and I don't believe that Konami owes us anything in particular (or as Sumac likes to say, "OWNS us something"...). However, I believe that CV has become a franchise that is too long-running for Konami to ignore while also being slightly antiquated from the mainstream perspective, perhaps due to its adherence to classic formulas. That means that the mainstream masses often ignore the classic Metroidvania releases, thus making them look like financial failures, while LoS does better with arguably generic, GoW-clone cinematic action. Ultimately, I think Konami listens to its fans to dynamically figure out what to try next, but due to the modest returns on most installments, they don't always put their best effort (read: funding) towards the next experiment.
Think about it. Konami felt like CV had to move towards 3D in order to stay successful, so they created LoI and CoD. But that dissatisfied long-time fans and didn't do anything to gain new third-person action fans. Fail. So Konami looked for a viable way to deliver the classic Metroidvania style in an innovative way, which led back to handhelds. Those were good, but handhelds weren't necessarily the platform of choice for hardcore fans who were still interested in the Metroidvania gameplay. Partial fail. They turned back to consoles and decided to test the network waters with a multiplayer-capable throwback to fan-favorite characters and settings, but that did nothing to interest the players who were accustomed to soloing their way through the puzzle-filled, carefully mapped corridors of CV classics. Unsurprising fail. It's not surprising that Konami would turn to outsourcing an entry or two with LoS in order to take an objective look at what they needed to do to move forward. If nothing else, LoS has provided some insight and perspective on what fans want, gotten them more vocal on both sides of the debate, and even managed to get a few new people involved. And fortunately, since LoS IS in a different timeline, it would not have damaged the CV legacy even if it had been received poorly.
Personally, I think Konami will continue searching for a way to make Castlevanias that can satisfy its existing fanbase while offering enough cinematic flair and compelling action to drive mainstream sales. Igarashi may or may not have the ability to do that, but I applaud his efforts to make consolidated sense of the timeline. Also, say what you will about Pachislot, but the fact is, it's a multi-billion-yen industry in Japan, provides tons of extra revenue, and is taken quite seriously by aging players who hold more disposable income to drive the broader gaming market. The Arcade is also an oddity, but I fully expect to see it announced as a Wii U or Kinect port in the next TGS (maybe earlier).
Castlevania may never completely satisfy both sides of the old-school vs mainstream debate, but Konami won't permanently retire one of the longest-running franchises in console gaming history. Instead, they will remain consistent only in their inconsistency, continuously testing market niches that can contain the series while generating respectable profits. Fan opinion will certainly weigh into that, as well, but it's not the final word on the subject. Still, we DO hold some degree of influence, and our discussions here can be productive and influential.