First trailer no longer exists?
Because it was a trailer meant to show off locales.
First trailer no longer exists?
And?
The trailer focuses on elements that individuate the game from Xenoblade. Seriously, aren't even trying.
Where did the first trailer indicate there would be AI allies if you weren't playing with others? It always had "Player #."
Also, the fact you have player created characters (which this trailer heavily indicates) and a fully explorable world is indicative that it won't really be like Xenoblade from a story perspective. It will probably have a story, but again, given the online focus and fully explorable world it will probably have a larger focus on multiplayer questing.
I'd love to be wrong, but this is how the game seems based on the two trailers.
Edit: Want to say I'm not as sure about the player created character thing, since I thought there were more characters in the trailer than there were. Black hair guy's hair just has an orange tint to it in the light.