I like the art direction, I think it suits the type of world they are trying to make. The combat looks polished and with plenty of time until release, if the plot, lore, inventory, crafting etc. stands up as well as described, I'll almost certainly be getting it.
The full version is worth a watch if you can stomach some of the "marketing speak" that goes on throughout. The game reminds me a lot of Divinity 2 after watching that demo. Combat does look fun, but perhaps not what some people on this site will be looking for.
Elements of clothing and style of armor/weaponry is direct copy from Gothic via Two Worlds franchise. And steering, maneuvering and contextual movement is a direct lift of Witcher 2 and Arkania.
But if something works and fits, why not use it? Pity it seems so shallow in terms of strategy and tactics, it seems to be all for huge swords and big spells for the sake of empowering the character. It'd have to have a REALLY good story if it's to be a good game for me.