Yeah, the theory is so good, the possibilities so sound. But sometimes I have to realize that I'm coming from a bay12/DF point of view. Where procedurally generated means a lot. I'm not sure how much they can do, or how much they will do. Or if it would even be fun if they could and they would.
Procedural weapons, great. Nothing seen but flashlights (which admittedly looked good, a heap of ingame possibilities), which is strange. Seems like even a quick vid of some thoughts of different laser effects, rocket launcher types, more than a quick .gif for melee weapons would work to their advantage.
Trees? Lots of different types, background stuff (unless they're biodata havestable or dodge behind-able or creatures themselves). Still procedural, pretty cool that we've seen some types and terrains containing them.
Enemies. Sprite based. Do they have different abilities? Colours? Types? All kinds of stuff. Are they going to be a pre-painted sprite, a paper-doll, a skeletal-based mash-up of bits with paper-dolled overlays? The flashlights point to at least skeletal-based aiming included for players, and the weapon generation to paper-dolling of things. How much variety are we looking at here?
So many questions, so much to look forward to, with only glimpses given. Their plan is probably huge, and I don't think that the alpha, beta or even the release is going to be the end of it. But just how much can they cram in, with the time they have? How much do they want to? Terraria is a basic sort of feel for this, sometimes it suprises you a little, but after a while even the most amazing construction or hardest enemy is sort of, meh/seen that/that's normal. This isn't that game, but I hope it doesn't fall short like this.
Even normal DF gets suprising sometimes. I hope Starbound is similar.