Theres alot of disinformation going around from misinterpretation of the footage from the trailer.

The game isnt an action game. It is clear there is an ATB bar under the character names, but characters continue auto-attacking when it isnt their turn.

The attack comand is a strong attack. The auto-attacks are weak attacks.

The defend command beeing an option sugests you dont have a real time control of your character actions. 

Its an evolution of the ATB system doing away with the nosense, but its not removing it and making it an ARPG like FFXV.

There was alot of disinformation going around, so i thought this thread was necessary.

Looks like the attacks are going off freely and the ATB is attached to magic/abilities.

Nope, it's very much an action RPG since you can chain physical attacks in real time ...

Everything's unclear really, let's just wait for more info.

besides, the game is very very early in development and it could change drastically from what we've just seen.

You arent chaining anything. If you notice the big attacks only happen when the ATB bar is full. That is the attack command. The limit break bar is further to the right.

The characters are chaining attacks by themselves, wich is the auto-attack animations. At least i don't see any compelling argument that its the player doing those.

If the ATB was only for magic and summons, wouldnt it make more sense to have it like KH and have their own CD's? I'm sure things can change, but from the footage we see i'm not sure we can conclude its any other thing.

That "ATB" bar looks like it's only meant to charge up for special abilities/attacks so the game is still very much an ARPG ...

Let's just wait for someone on YouTube to break the trailer to pieces and/or Nomura comes out with more info, until then, we really don't know much about it

I highly doubt auto attack would be in there since it makes dodging and defense much harder on the player's end ...

We can debate wether we have direct control during the non-filled up ATB portions, but having the ATB is what makes it turn-based. The problem is that if you do have control during those times, you wont be able to issue commands to your party members... at wich point... why is it we can see barret's ATB bar aswell?

To you above post. Yes, the defend command is in the menu. How does it make sense if its real time? It would have to be mapped to a button.

It's not an ATB gauge (under the character's name). 

The bar depletes and fills up as you attack. Watch carefully around the 1:25 mark:

An ATB bar fills up over time and when it's full, it's that character's turn. This is not the case here.