It's difficult without context but... A good movie director will sell tickets to the next film based on his previous work. People will expect a certain standard and it will be advertised with his name, and he might even do the interview circuit. If the movie doesn't reach it, it will impact future expectations. If during production, he argues with the writers, the lead actor is a nightmare etc, he might decide to limit expectations by distancing himself from the film to avoid any impact. So it's about judging and managing expectations to the best advantage.

A: Let's play an expectations game! B: What's an expectations game? A: I don't know, I thought you might be able to tell me.