It actually looks quite nice. We've just got to hope that they allow you to re-colour your troops, ala DoW1. I think that might actually be the problem. The DoW troop graphics were pretty good, adequate at the very least, and complaints about DoW2 were centred on gameplay, not graphical fidelity.
Compare SC/Broodwar to SC2. Getting used to "shiny" is an inevitable part of RTS progress. Not a good thing, but it happens.
I can't really comment on the gameplay mechanics, although I tend to think they were trying to show off the "feeling godlike, spamming pretty nukes" parts, rather than tactical stutter-stepping and retreating part of gameplay.
I'm really looking forward to this. Sega and GW seem to have opened up a bit on the whole modding scene (a little bit, but anything's better than nothing), TW:W is by and large a very good game from the same publisher giving us hope on the quality of product (and it's really not finished, balanced, patched or DLC'd yet), so let's hope this comes out just as good if not better than that.
The developer has a reasonable time window to make it good, assuming a mid-late 2017 release, so I'm happily sitting on the optimistic side of things. Hell, if this is a graphically updated DoW1 with decent net and modding support, I'd be happy. If they manage to choose a path and stick with it, not trying to please both DoW 1/2 camps, it should come out alright.
It's kind of a pity that they don't seem to realize they could just remake DoW1 with extra bits and we'd happily buy it. Screw creativity, go for profitability. We know what we want.
edit: that "knight" actually looks like a scaled down reaver titan. It's got 2 vulcan megabolters and a multiple rocket launcher. Knights don't carry stuff on their back, neither do warhounds. Vehicles in general look too small (the elder Falcon pics *couldn't even nearly* fit a squad in them), but the scale was off in TT too. Playabilty concerns must have trumped enormous epicness I'd say. It should be 2-10 times the size, but you wouldn't be able to see anything but the titan onscreen then. Twin vulcans and MRLs don't happen otherwise though. It's a titan, not a knight. It's just a baby one for some reason.