I can't understand why people constantly expect developers to completely reinvent a certain genre.
Foundations for 3rd person shooters were laid long time ago and few games actually added something new.
I see people constantly saying things like "generic" or "Gears of War" clone. Gears of War added nothing new to the genre outside of active reload and better graphics and yet it's hailed as one of the greatest TPS' of all time. In fact I could call GoW a clone of Killswitch and I would be perfectly correct since GoW copied most mechanics from that game.
I loved almost everything that I've seen in this short gameplay clip. Gameplay looks fun and dynamic, Thermite Gun looks like shit load of fun (and that arc gun looks incredible), graphics are of course insane, characters look well designed (I love deep female voice of Igraine which points out that she has a strong personality as opposed to many other female characters in games), I loved the cinematic scenes in gameplay and surprisingly, the thing I thought would bother me the most - the infamous "black bars" (aspect ratio) - I stopped noticing that a few seconds after the video started.
The only thing I believe needs some more work is AI - it's disappointing to see those two guys, in the scene where Galahad is dragging that officer inside the building, just standing there, waiting to be shot. But, other than that scene, AI seemed perfectly fine in the shootout that preceded that scene.
When it comes to performance I will certainly not judge the framerate and amount of screen tearing, from a shitty stream that looked all kinds of blurry even in the "source" quality. I'd like to see at least some sort of direct feed before making that judgment. Not to mention that this game comes out in Q4 2014. so there is plenty of time to polish things.
So I suggest you stop expecting an evolution or a revolution from every new game in any genre and instead I suggest you start expecting fun and well designed games. Once you develop a more realistic expectations, you'll enjoy gaming much more. The way things are now, I see only a bunch of people shitting on every new game out there. If you find everything in gaming these days so bad, bland and uninspiring, then I suggest you find a different hobby since this one clearly no longer works for you.