Really doesn't do much for me... Level design is on the generic side, too much beat-em up action versus platforming and exploration . I also find the search for "secrets" to seem almost non-existent. It's not really "secrets powerups" if they are hidden in plain sight behind behind easy to spot breakable walls all the time.
I also found the "stealth" segments to have nothing to do with actual stealth... I mean, stealth is not changing form to bypass a lazer wall. Now , if you had stealth takedowns for enemies or something... But you basically switch back for combat the minute you encouter foes.
The camera seems a little too far from the main character too, it does make sense when Knack is in his "big mode", but when he's relatively small, it makes the somewhat bland and empty world feel even more barren. I appreciate the fact the demo showcased four different parts of the game, but the transition between them seemed out of place and I would have preferred a big chunk of gameplay with story elements and progression to this "bite sized gameplay segments that fail to accomplish anything". Not the best way to showcase a game imho.
Overall, I dunno, it kinda lacks identity, at least when it comes to gameplay. The cutscenes and trailers seem to have personality, but when actual gameplay starts, it does feel kinda generic and maybe a little too accessible for my tastes. Then again, it'll probably be a great title for yourger gamers or people that like beat-em up with some minimal degree of platforming... But to me , it's no Crash Bandicoot or Spyro.