In LBP you were stuck with Sackboy and other already created characters, and even though the physics could be manipulated a little, it wasn't to any great extent. Dreams is different. In Dreams YOU create everything, from the character, character animations to the way the character 'plays'. You have complete control over that aspect of the game, unlike LBP.
I'll remain sceptical until I see created Dreams that actually look like they play well.