What did you get out of it?
Well, there's a second video too which shows going up into the mountains to the mages guild.
Here's what I got out of it: Good detail, reminds me of Gothic. Improved animations and textures. I like the way it looks, the rats scurrying around, ducks walking on the wharf, decent amount of clutter. The bad part is that it seems to validate the "tunnel" criticism. The path up the mountain, for example, gives you a choice of which cave (literally a tunnel) to go through on your way, there does not seem to be any ability to scramble up rocks or ledges or even stray from the path.
In spite of that, I like the atmosphere more than in Risen 2. I guess we'll have to see if the gameplay makes up for the limits. Oddly, I'm slightly reassured because I was prepared for it to be worse than Risen 2 and that does not seem to be the case.