As a massive fan of kaiju flicks I'm actually quite interested by this; I hope it keeps the art style of the teaser trailer as I'm not a fan of the Chibi style in games like Wonderful 101.

Yeah, that setting and premise is as uninteresting as it gets for me.

Official statement from director Hideki Kamiya: (Added to OP)

"Hello, everyone. Platinum Games chief game designer Hideki Kamiya here.

It’s my honor today, at long last, to announce an all-new, all-original project from Platinum Games. In the fourteen years since we founded this company, we’ve worked towards the dream of making and releasing a game based on a Platinum intellectual property. Now, we’re finally stepping up to that starting line.

What makes this new title different from what we’ve done before? Let me explain a bit, because I’m sure you’ll agree that this is a giant step for Platinum Games!

We’ve made a wide variety of games throughout our history, sometimes based on existing properties, like NieR: Automata; sometimes wholly original stories, like Bayonetta and Astral Chain. Our work has found a core of passionate fans who trust us to deliver high-quality action games.

But Platinum Games has thus far only been a developer. That means we make the games, and that’s it. All of our titles up until now have been made under contracts, with cooperation and funding from the publishers who distribute them.

Of course, everyone at Platinum and I are extremely grateful for the relationship that we’ve made with all of you through the games we’ve made so far. But ultimately, all of those games belong to publishers. Any and all decisions about how those games are promoted, how their content is used, and so on, are entirely up to the publisher.

As a creator, it’s hard not to think of my games as my children. After all, it takes a lot of hard work to raise them up, and a lot of love, too. However, once they’re done, any choices about them are entirely out of my hands. So, for example, no matter how many times people tell me, “You should make a sequel to this game,” or, “I’d love to see it on that console,” there’s nothing I can do about it.

Which brings us to Project G.G. (that’s just a working title, by the way). Project G.G. is different. Unlike any of the games we’ve made so far, it’s going to be a 100 percent Platinum Games title. For everything from its setting and characters, to its game design and story, to how it’s promoted—Platinum Games is in full control.

Of course, that has its downsides, too. We’ll be taking on new risks that we’ve never had to assume before as a contracted developer. Having full control over the Project G.G. IP gives us a ton of freedom, but also a ton of responsibility. Still, I think we can harness that sense of responsibility and turn it into motivation to make Project G.G. the best game it can be.

Like I said before, with Project G.G., we’re stepping up to a starting line. The finish line is still a long way away. But I know I’m looking forward to running the race! I hope you’ll cheer us on.

And if you’d like to join us at Platinum as we start out on this new endeavor, I sincerely hope you’ll take a look at our jobs page and see if there’s a position that’s right for you.

On behalf of the Project G.G. team and all of PlatinumGames, thank you for your support!"

Give me Kamiya Ultraman!

Some details apparently from Famitsu:

https://gonintendo.com/stories/355709-platinum-reveals-project-gg-which-is-targeted-for-all-existing

- The action feel of the game is important but not the main focus of the title

- Launching on all existing platforms, as long as they can

- The goal is to have 100 people working on it, but 15 people are actively working on it now

- This new 100-person team will be working at a new studio in Tokyo

- Tencent offered to publish and fund this game, but Platinum refused because they want full control and ownership

That last one sounds like Tencent would have it sold on EGS and Wegame only, because knowing them, they want the cheapest venue possible, while Platinum ant full control and reach as many as possible. 

It is soooo ULTRAMAN!

Yeah let's just say I'm glad Platinum has control over the game rather than Tencent.

Also, sounds like it's still a long way off, so while they say it's coming to current platforms I wouldn't be surprised if it ended up as a Switch 2/PS5/XSX game.

New IGN article with some new details: https://au.ign.com/articles/how-platinum-games-project-gg-builds-off-of-viewtiful-joe-wonderful-101

“Basically we’d like to hit PS4, Xbox One, Switch and Steam, and then of course PS5 and Series X are coming soon. We don’t know exactly when this will come out, but we’d like to release it on whatever are the main platforms at that time."

“Put it this way, we’re not looking at something as long as three years. Nor will it be as soon as half a year or a year. But as our first self-owned and self-published game, we want to deliver it as soon as we can.”

it better not be like Godzilla 2015 game.