Yeah looks like Monster Hunter type multiplayer maybe? Would be cool if it's still a single player style game, but with added ability for real friends to come in and play the role of other party members.
I sincerely doubt it's an MMO, it's likely just co-op, I just hope it's general campaign is akin to Blade and it isn't going to wind up as a hunting game due to it. Of course, it's also not like it can't have both.
I guess the parts where you can actually cut off tails and parts of larger monsters now might strike people as more Monster Hunter-ish. There's also actual third person aiming for range weapons now. And there are giant mechs (YES!!!) you can control, and transform into vehicles.