Godfall looks impressive from a technical standpoint—and it's going to need a monster rig—but no amount of gameplay footage really captures what's exciting about it. It's a loot-oriented third-person melee combat game that appears to take cues from both Dark Souls and the recent God of War reboot. Taking cues from Dark Souls tends to have mixed results, as we've seen countless times before.
But time will tell, and on the PS5 at least (that's where the above footage comes from) it looks really fun and fluid in action. You play as a Valorian knight, a kind of "godlike warrior" who can equip special gear to dramatically improve their combat potential. Hence the loot aspect of the game: it'll be about finding, acquiring (and presumably grinding for) the many and varied styles of Valorplate.
It's not a live service game, though it'll require a constant internet connection even if you're playing solo (it supports online cooperative play, too). Godfall is scheduled to release on the Epic Games Store on November 12.