It looks pretty run of the mill, just as an MMO. Nothing is said in that video that couldn't be said about any garden variety MMO, and there's no sense in all that commentary that the designers are bringing any new ideas to the table, or have learned from the lessons of recent MMOs (in contrast with, say, TSW or GW2, which had some clear differentiators in concept). AFAICT it's just trying to monetize the IP in a new way, but isn't doing much more than a 'Me Too!' effort, which is disheartening.
I'm not concerned about the lore. I'm mainly concerned that it will crowd out development energy and resource that might otherwise be focused on a next generation of the single player experience.