In what appears to be a continuing trend, the upcoming Resident Evil Revelations title will not be one entire game at launch. The sequel to Revelations will be featured in four episodes, each listing $5.99 as they are released in a weekly. If you get the Complete Season you will also get additional content on top of the episodes. If you're patient though you can get the entire series on a retail disc. This version includes even more content on top of the additional content offered in the Complete Season deal and will go for $39.99 retail.
Capcom has stated that the game's storyline will take place between Resident Evil 5 and 6. Capcom also released a statement that Revelations 2 will include additional gameplay modes within the episodes aside from the story (here's hoping Raid Mode returns).
No release date has yet been confirmed.