In a lot of respects it's FFVIII in HD.
Sakaguchi is taking his FF vision and trying to make it "real" like FFVIII, with more realistic looking characters. I don't think there's anything wrong with the character models, but the animation is clearly not great, and there are issues with camera and potentially issues with frame rate. None of these things are what make an RPG for me though. An RPG is playable if it has good characters, system and story, and this looks like it has potential in all three departments.