I think the Far Cry series would benefit from some slightly different storytelling; maybe they could introduce supernatural elements.
But, I haven't even played Far Cry 3, and this really reminds me of that game, which people who've played FC3 seem to agree on.
The fact that the "grappling hook" is just a basic QTE is also disappointing, and, perhaps, telling of the limitations of the engine they are working on? I think an actual grappling hook, like the one in Just Cause 2, would make a great addition to a game like this.