Wow, that trailer didn't tell me anything. I can only assume it's supposed to be a game, because it's posted in games community, and that doesn't even come from the trailer itself.
Basically the art style of The Sims. The gameplay of Animal Crossing. All in 3rd person perspective. UI looks like it's build for handheld. According to the description, it's releasing on PC.
This is not an action game. It's more of a multiplayer chillout space.
I'm glad to see it happening. Sometimes I get tired of endless combat, and just want some low-key exploration or a little hunting or farming. Even better if friends can join. And the price is right.