The Saturn version wasn't complete, I don't think we know how far ahead it was in development. It's pretty common for a game development to start on one console and then end up on another, though.
So, to explain, Virtua Fighter RPG was a long rumored and talked about game on Saturn. It was nearly talked about as much as Virtua Fighter 3 for the Saturn. When the Dreamcast launched, it got a home port of Virtua Fighter 3TB, which was its most popular launch game, and that game’s Japanese version includes a disc called “Project Berkley”. That disc is where this footage is from, as it contains a full documentary with Yu Suzuki, going over his directorial history, before he proudly unveils the re-named “Shenmue” to the world, as well as promising it for the Dreamcast by the end of 1999.
One of the most legendary moments for announcing a game formally, even if they missed that deadline by a full year.
Shenmue, a game that I love, certainly didn’t help keep SEGA alive. It’s the kind of experimental game you green light when you’re rolling in money. However, by the time of the announcement of “Project Berkley”, SEGA had done their accounting and found that SEGA of America had actually mostly lost them money due to poor financial decisions and gross business practices by American retailers (such as forcing SEGA to overproduce stock, lest stores refuse to do business with them, and then forcing SEGA to buy back unsold stock after holiday seasons). Shenmue cost $65 million to make, the most expensive game ever made at the time. It was poor financial decisions but amazing artistic decisions like that which define classic SEGA, for better or worse.