Maybe it'll blow, maybe it'll be fantastic. I personally hope it turns out excellent. I am sure a Gameplay vid is upcoming soon.
On another note, I prefer this style of releasing a game. I am bored of companies releasing screenshots and videos YEARS before a game is released. You end up knowing absolutely everything there is to know about the game before you even play it. No one forces you watch those vids, view those screenshots or read spoilers, but they just seem to end up taking over the internet whenever they're released. I'm looking at you Blizzard. Others are guilty too, in my opinion. I've seen all there is to see of Rage as of right now, and TBH I'm already bored; and I usually love ID games.