Why not? Failing to reach intended goals within the set timeframe is a non-issue by itself. So long as it's clearly communicated those goals will not be met when it's recognized.
Bad communication is when the information provided is deliberately vague, unclear or has a fixation on the juvenile surprise factor in areas where there should be no surprises. Such communication is used to incite interest and, dare I say, hype and hysteria. Likewise, advertising functionality or setting a timetable, realizing either one isn't in the cards and failing to clarify those changes in direction is bad communication.