I read a bit on this because I too remembered this already coming out years ago.
Turns out they released a RO2 and it sucked balls (or so the Koreans thought).
They scrapped the whole things and started from scratch.
This is the new version.
So technically, the game has been in the maker for 6 years with the rework and all.
Huh. So, is kinda like A Realm Reborn.
I remember messing around for like half an hour with Ragnarok years ago. I really didn't play it as much as I was seeing what the game was about, but I got bored and I never bothered giving it another chance... dunno about this new one though.