NOOOOOO it is not, i waited... nothing.
restated ps4... nothing.
re-installed game... nothing.
deleted update... BINGO, i'm in =D the problem is the update itself not the game or "congestion"
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for me the good old "ipconfig /flushdns" did the trick... maybe it works for you too.
And suddenly I'm in. Launcher just loaded as always, with no delays whatsoever.
This is if you assume that SE had the foresight to expect issues with the launcher load-ins and put a time-out counter for everything that downloads from the server in, and we've all experienced how much 'foresight' that SE has had with server load issues. My guess is there isn't a time-out counter for any of it, it requests something from the server, expects that it will arrive in a certain amount of time, doesn't get it but continues to try and go ahead and fails out. Yes, programming for networks 101 there... but we have a proven track-record already, don't we?
So is SE going to do or say anything or are they just going to blame it on "congestion"? Would really like to play a game I pay for or at the very least get a non random BS excuse as to what's happening. Would also be nice to even know what error -2146697205 means