It looks like Sega is taking stuff from a bunch of action rpgs and throwing it into this next PS iteration. Elaborate combos, stupidly large ugly great swords (moreso than phantasy star online and universe anyway), jumping (haha), and a more over-the-shoulder camera view like from Dead Space or RE (not rpgs, but relevant to the reference). I'm not impressed by the trailer, but like the other PS titles, I'll watch it for now. If they hint at a console release later, maybe I'll get into it.
Oh and now we can run...yay.