I like a long hiatus, but I've found my other fandoms have used the hiatuses to be virtually non-existent. Although they're also TV shows, and I find TV fandoms tend to have a shorter attention span. My book loves don't have fandoms, or they're closed canon fandoms like Harry Potter.
I think Harry Potter fandom is an odd case, in that it's... totally different from what it was before, with mostly different people, even. I got into the fandom pretty much as it was growing to its epic size right after GoF (although technically I was in fandom before - but only by about a month), and most people I know still in fandom got in way later - 2005-2007ish tends to be the date, but a few people even later. (Most of my 2000-2002ish friends have either disappeared into the ether or find it amusing I'm still here, but have moved on.) So I think for me, canon has always been evolving because even in between the books, JKR would reveal new information that might debunk an entire WIP.
So I don't really mind, possibly in part because I came into fandom at a time when canon wasn't nearly as established anyway. At the same time, that extreme was less likely until a new book (when you knew your WIP was compromised anyway), whereas now there's a better chance a WIP will be debunked.
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I think Harry Potter fandom is an odd case, in that it's... totally different from what it was before, with mostly different people, even. I got into the fandom pretty much as it was growing to its epic size right after GoF (although technically I was in fandom before - but only by about a month), and most people I know still in fandom got in way later - 2005-2007ish tends to be the date, but a few people even later. (Most of my 2000-2002ish friends have either disappeared into the ether or find it amusing I'm still here, but have moved on.) So I think for me, canon has always been evolving because even in between the books, JKR would reveal new information that might debunk an entire WIP.
So I don't really mind, possibly in part because I came into fandom at a time when canon wasn't nearly as established anyway. At the same time, that extreme was less likely until a new book (when you knew your WIP was compromised anyway), whereas now there's a better chance a WIP will be debunked.