At first I thought ehh, another Minecraft clone, but the more I watched the video the more this seems kinda awesome.
Procedurally crafted tools, no restrictions on build height, a massive view distance are all very cool. It has the same problem all Minecraft clones have though... It tries too hard to be Minecraft. The textures and UI are almost 1:1 that at first glance I could swear it's Minecraft. I hope it becomes its own thing as it gets developed more.