If it didn't have the words "Killer Instinct" and you removed the announcer this would look like just some generic fighting game. The original Killer Instinct was a technological leap and breakthrough. Innovations such as advanced computer modeling and fully rendered characters from head to toe is what gave KI its style and flair.
This however, has no style. It doesn't look inventive at all, and ontop of what I watched in this "tech demo" this could easily run on an Xbox 360.
#Disappointing
That's the current top comment on the video -- and I agree. Looks like nothing particularly special. Plenty of time between now and November of course, but that doesn't exactly look significantly upgraded over what we've got already under our televisions.