Too much to lose, nothing to gain if that leak is true. HTC will get smoked by all the other brands...don't believe this.
Don't forget, regardless of what people think of the M8, it was generally a flop for HTC, it's sales were weak compared to the giants and it never gained steam through 4Q 2013. It was a good phone (I wouldn't buy it for a number of reasons from its design but that's another story) but not a big seller. HTC is generally regarded as a weak marketing performer, very little brand recognition compared to the giants.
So...what's the best thing they could do? Generate interest...good or bad, any press is good press at this point for them. I think it's smart for them to put out images of their clunky M8 and show it in another color to generate buzz, then pull out their shining star at the MWC in a few days. They're desperate for attention, even right now Samsung is launching a marketing blitz that has everyone talking well before the release. I think this is HTC's attempt at generating buzz, however it's not as effective as Samsung's which shows they're still way behind on the creativity scale from that perspective. Right now it seems the only ones taking notice are the HTC fans since they're really the only ones who give a hoot.
My worthless prediction...evleaks is right and this phone will be compared to the iPhone on short order.