I bought it based on the comparisons to Minecraft, but judging by that video it's way, way more than that. I've played for a few hours, exploring caves and building a modest house. I look forward to getting some of those crazy weapons.
It's pretty fun. I think I like Minecraft more at this point. I was getting tired of constantly having slimes come after me while I was digging for example. Gets tiring.
I bought it off Steam and have sunk a good 10 hours into it since two days ago. I think it's one of those games I'll play intensely for awhile then never touch again.