I can't see it making 1m - ever. You make solid points Stof but my main observation is that the game was not build from the ground up to develop a game around a fun concept (WM+ sword-fighting). Rather, the concept was merged into a game already well into development with the hope of making it fun and capitalizing on people's desire for true 1:1 sword fighting.
End result: The game looks like fun for about 15 minutes. Then it's more of the same, more of the same, more of the same. Your arms will get tired, your brain will numb. One mindless enemy after the other, broken up by the occasional boss battle or puzzle.
Of course, Zelda does that as does any FPS but Zelda is about the puzzles/exploration/bosses not the fighting, FPS are well established, polished (from 20 yrs of FPS history of what to do and not to do) and non-tiring fun.
Red Steel 2 looks to have no creative merit. It's a cash in on a concept but not a game build around the concept from the start. Yes, RS2 was always planned to have sword fighting but not because Ubisoft had found some genius idea of how to make it fun for endless hours, but because they thought people would think it was fun.
A Punch-out fencing approach would have been the better way to go I think for this. Learn the enemy's pattern and then overcome it. Block, block, parry, thrust. A thinking mans sword fighting game. RS2 looks like a tiring waggle-fest. Like Soul Calibur Legends, except it's now a 1:1 waggle fest.
I predict it'll go the same as the first, there will be some (muted) hype around it due to the promise of 1:1 sword fighting (like the original had) but once critics and people get their hands on it that'll vanish like a puff of smoke.