A lot of friends I know have that same feeling. Two are Leaf owners trying to figure out how to hold out until 2017. Others are Prius and gas car owners watching. Several strangers whom I meet when I park my S will ditch their gas cars as soon as Model 3 is out.
My informal survey leads me to believe demand for Model 3 is already well-stoked, and expectations around it are high, so its delay could hurt Tesla's reputation and mindshare in this market. The S has created a huge halo effect, speeding Tesla Motors towards accomplishing its mission, but I'm concerned a Model 3 delay will kill off that goodwill. The Model X delay matters only to the extent it implies a Model 3 delay, which thankfully most of these prospective buyers don't read in too much.
As for Tesla's survival, a one or two year delay probably is okay. But to best accomplish the TM mission, short of delivering Model 3 today, 2017 delivery would guarantee Tesla continues to shape the car market towards that mission. If a $5B investment isn't enough incentive to keep Model 3 on track, perhaps preventing an old-school car company like GM from guiding BEVs towards their own agenda is. I'd much rather see TM in that driver's seat. For now, I can argue that others' 200-mile BEV is far more vaporous vaporware than Model 3 is.
To TM: please don't be late.