Looks really low quality. Horrible lip syncing, awful first person animations, you seem to just be a floating camera in FP, combat looks awful. Horribly disconnected third person animation moves and the core combat has awful animations for both the player and the NPCs and doesn't look satisfying at all. I've rarely seen combat that's more underwhelming. AI sucks, animations suck, combat mechanics suck, there's nothing good to be said for it at the moment.
Now they say it's "pre-alpha" but that doesn't necessarily mean anything. Sometimes these E3 demos look better than the release versions. My hype levels have gone down a LOT after seeing this gameplay, I no longer expect this to be a good game.