My not too detailed thoughts despite NDA (talk about it seems widespread, but I'll try to keep brief)
Also only got a chance to play a total of about an hour, so keep that in mind.
First off my main frame of reference is Destiny...
It's a cover shooter, more Gears of War than Destiny. The gameplay doesn't seem nearly as skill based as Destiny, you aim a big auto aimed round curser at enemies, this gets bigger (less accurate) the more you shoot without stopping. it's almost a bit more like turn based in practice than twitch gameplay. It's NOT turn based obviously, but just to give a feel for how extremely paced the shooting is. I cant see how this will be skill based at all in PVP...at least not in a twitch sense, it may turn out to be in a tactical sense?
The cover system, frankly, feels pretty clunky at this stage. As does the gameplay in total, again coming from Destiny. They're really totally different combat.
The graphics, a mixed bag, definitely a huge downgrade from original vids, but still probably among the best looking open world games and a good looking game in the current gen roster outright, especially in the city scale. When you get a snowy cityscape it's impressive.
The RPG elements seem probably a lot more complex and deep than Destiny, which I guess is good. I feel like balance is going to be a challenge with so many options, as it is in any game. Pretty much guarantee within a week people will be figuring out combos that are drastically OP, just because there's so many. I felt like the menu's were not very intuitive in my short time I couldn't even figure out the primary/secondary weapon system. For whatever reason I could only access one of those two.
You have a base! That you are meant to upgrade and so on, by doing missions. Obviously this is one area very different than Destiny and could be an edge.
The missions though, could grow boring quickly because of the weak seeming combat. I already grew a bit tired of it sometimes. Like oh, I have to restart this battle again because I died for the 4th time? That's the test if the battles are fun, and sometimes they weren't fun enough to make you want to keep trying.
I did not see any Dark Zone stuff (remember, only 1+ hour playtime) and am only even vaguely aware what that is, but it's a big part of the game I didn't experience.
Overall I would call myself far from blown away, even a bit disappointed, but still hopeful.
edit: that dailymotion vid will probably give a lot more info than i did if you are interested in the game.