I do think it would be a great feature to highlight and keep the new users updated with the WIP's news and information with some kind of personal blog or an article inside the WIP's page. I created a quick and small demonstration on how it would look. Something very simple and small. In case of long texts or huge media, it would be compacted - if you want to read the full article/blog/news, just click on "Read more". If you want to read previous blog/article/news of the WIP/Concept, you would need to click in a future "Read previous news" button.
The current "Update" feature could be turn into this new "Dev Blog" or "News" for WIPs, Concepts and many other GB's features out there that could fit into this role. Instead of just words and small sections of "Fixed/Completed/Implemented", it could turn into something bigger and interesting with a proper article with fresh media (images, videos, etc).