The problem with trying to convey the level of expressiveness that 2D animaton gives on a 3D cell shaded model is that 2D animation is much more flexible and open to unique kinds of cheats (i.e. 'breaking the joint') that aren't easily achievable on a fixed 3D character model.
That is why animations that should look smooth, quick and expressive end up sort of ankward and stiff looking. One of the few series that pulled off a transition from 2D to 3D models without a loss of expressiveness well is Ace Attorney.
I also don't subscribe to the theory that noses ears and cheekbones somehow get into the way of expressiveness. You have to look no forther than Mario to see that that is not true. Yes, he is cartooney and has big expressive eyes, but he also has a stache and nose physics and it serves to make him MORE expressive not less so.
Making everyones face a blank slate for huge eyes to play off off is just plain lazy character design imo. One piece still serves an anime aesthetic, but people are allowed to have marked differences beyond their hair and eyecolor and be other things than just 'cute'.
I'm sorry but seeing that the main benefit of this style, namely it's easy expressiveness is severly hampered by the technology of the game, I don't really see it as a positive change.
I wasn't even very opposed to this style before, I like cute cat people as much as the next guy, and I wasn't too terribly fond of previous Xenoblade styles either, but seeing this video sort of highlighted it's flaws in the worst possible ways.







