It looks like Playstation's own version of Recore. That's not a compliment either.
The main character is severely ugly (i.e. why aim for "realism" in such a fantastical arcade shooter setting?) & the gameplay is an acquired taste, i.e. in a market where really, really good third person shooters exist, Returnal's gameplay requires a certain dose of nostalgia & lenience based on the clips I've seen (just like Recore).