I dunno it could be really crap if they don't have a serious think about gameplay, the pimping of graphics always concerns me when there's no mention of gameplay.
Then again, its just one step closer to a Tremors game (which would be way better imo). Come on... underwater shark --> underground 'shark'. Plus you add into the mix a deeper game, since you have grabboids, the chicken things (edit: shreiker... should have but an ass in there..

) and assblasters, as well as human combatants. Could be played very well in an AvP kind of way. As long as they avoided levels and did a totally open environment, ie. Perfection Valley mapped out. Could be really sweet!