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I'm not convinced he was holding out for Conor all this time, refusing to take other fights. Having organized some pretty large projects that have relied on a few key people for completion, I suspect it's just as likely that the UFC wouldn't let him fight anyone and risk their money fight falling apart. I don't think they expected this thing to drag on for years -- if they knew that, they would have let him take other fights and earn some money for them. But I don't think they strung him along, either, in this hypothetical scenario. From their perspective, the fight was always just over the next horizon.
I think it's likely that Conor was stringing he UFC along and kept finding problems they had to fix while promising everything would happen on all the right dates. I think it took two years for them to realize how (allegedly) unreliable Conor has completely become at this point. I've had to work with people like this: it starts with trust in their professionalism, but they're not the same person you've worked with in the past and pretty soon you're desperate for them just to do their damn job, but they never do, and it's perfectly human to keep trying to salvage everything invested in the situation instead of cutting losses.
I think it's likely that Conor was stringing he UFC along and kept finding problems they had to fix while promising everything would happen on all the right dates. I think it took two years for them to realize how (allegedly) unreliable Conor has completely become at this point. I've had to work with people like this: it starts with trust in their professionalism, but they're not the same person you've worked with in the past and pretty soon you're desperate for them just to do their damn job, but they never do, and it's perfectly human to keep trying to salvage everything invested in the situation instead of cutting losses.