So I just gave the demo a second look.
This time I decided to try turning off the Post Processing Effects. The game looks better with it turned off. 1920x1080, vsync on, Textures on High, Shadows medium, Motion Blur on (I dont mind it with PP off). I also have Mouse Filter on 1, Sensitivity on 5. The game looks and controls much better for me with these settings.
Story? No clue if there even is one as they seemed to take 2 random levels from the game, made in different era's.
Gameplay is pretty standard. I definitely do not like the 2 weapon limit and short ammo supply on the weapons. Hoping this gets modded to open it up. It really is like the Stadium level was made since Gearbox took over, and the rest of the demo was made 8 years ago.
Game is way too easy on the hardest difficulty. I never once felt threatened during the Stadium battle, the bosses attacks are slow and spread apart. Circle Strafe, pickup ammo, dead boss.
The pig models actually look pretty good. Everything else in the second half of the game looks old, which makes me worry about the rest of the game.
Going through it a second time with better controls and the annoyingly bad Post Processing effects turned off, I enjoyed it much more than I did the first time. Based on the random demo levels, and no multiplayer demo, it's a $15 or $20 game for me. If they have a MP demo, or after release I see some cohesive gameplay, I may increase the buy price.