It's not what I expected at all, but it does look colorful, I'll give it that.
However, what will make it or break it for me is whether it actually plays and feels like SMT X FE, and not just Persona with a few FE people as summons. I'm talking mid battle movements on a square grid, rock/paper/scissors weapon advantages, lengthy 20+ minute engagements, press turns, demon summoning, maybe some form of perma death, etc. The works from both series.
The extremely brief battle clips they showed seem turn based and persona-esque, hopefully there's more to it then that though. Otherwise fuck it.
And it better not play like Devil Survivor either. DS1 is probably one of the best story/settings in the smt-verse but I did not care for the gameplay at all. Too much of a grindfest if you weren't a master of fusion/stat min maxing IMO, and the excision of the usual exploration in between battles hurt the pacing rather then helped also IMO.