Yes and no. It is getting extra hype because it is a Nintendo new IP 3rd person shooter with heavy foucs on online. It's also exclusive - I doubt many would care about blood borne's cgi trailer if it wasn't an exclusive title.
But it also looks really interesting to me because it adds many new gameplay mechanics to the genre. It looks like it plays like a platformer/shooter hybrid. Both this and Sunset Overdrive look very fresh to me in theme/gameplay/presentation when it comes to shooters. This creates hype for me beyond Nintendo doing something new.
Titles like The Division look grander only in graphical realism, not in actual gameplay. In fact, titles like that seem like very basic gameplay of cover, aim, shoot. The jumping, moving, transforming all in a fast pace while claiming ground territory and playing as a very unique kid/squid hybrid mutant in Splatoon looks fresh and fun. It's great to see a totally unique new game character.
