Minecraft was one guy for a long time, and I would say is bigger in scope than limit theory. Procedural generation is a great way for a single developer to accomplish a lot; because content creation is the slowest part of the development process. If you get a bad system, just generate another one.
I don't know what it is about the movement of this video, but it made me dizzy. I don't usually get dizzy watching games, even things like descent, so I'm not sure what is messing with me about it. The damage model and heat mechanics sound pretty interesting though.
I have to say all these projects interest me. I'd love for them all to get funded and completed.