I've been thinking about the cycle of announcement to projected release Starfox is going to have and its made me come up with a few ideas of what I think this game will be like.
Firstly, I don't see it being massive in scale like No Mans Sky or Elite: Dangerous. While this would be amazing, and lend itself well to the series, I just can't see it being possible with the amount of time the game has been in development. I also don't believe that the fast-paced, high-octane 3D Shmup action that the franchise is known for would work well in a vast, sprawling universe that is... largely empty. Elite: Dangerous sees you flying around the galaxy trading and managing a ship more than exploring and dog fighting.
This leads me to my second thought. What style of gameplay would work well for Starfox going forward? One title, for me, comes to mind. Mass Effect. I believe that this would allow for intense dog fights followed up by action packed adventure based combat. Now, obviously the story aspect of things might not necessarily be as big of a focus as Mass Effect, but I picture something along the lines of a quest system that encourages you to explore, land on planets, and jump from star system to star system.
My last thought about this game involves Nintendo's current trend of budget titles. Given the turn around time this game will have... we might be looking at a budget title that sticks very true to classic Starfox gameplay. It's also possible the game might be released in an episodic fashion or even DLC that expands upon the light to medium amount of content that the original game has by adding more star systems to explore.
TL;DR Anything could happen with this game, but don't get yourself too worked up before you know what it is. I personally won't pre-order anything anymore. I have to have played it, seen gameplay on Twitch/Youtube, or have a buddy I trust recommend it before I'll drop the cash on a new game.

As long as it has online multiplayer dogfights I'll be happy.

I`m conflicted here. The idea of being able to freely travel anywhere through space sounds cool, but I also like the rail shooter feel of Star Fox 64. I would like it if they could do both.

Probably not very big. I don't think Nintendo will give Star Fox as much attention as some of their other franchises.

In terms of production value, I expect Starfox will be more on par with modest stuff like Nintendoland, Captain Toad, Kirby & the Rainbow Curse, or Splatoon, rather than a full fledged blockbuster.

Ah, the Nintendo revolution factor. With each sequel Nintendo NEEDS to make it fresh and revolutionary otherwise it's not a "good" game. It reminds me of Skyward Sword's release and how gaming journalists were like "The game needs to be less Zelda and more Skyrim" even though the Elder Scrolls franchise hasn't changed its formula since its first game in 1994 either, both series have just evolved with the better hardware.

People buy games from a franchise to experience what that series offers. For Starfox that should primarily be fast on the rails arcade action mixed with Arena boss battles and humorous dialogue. And then they can add stuff like on foot sections or whatever to help evolve the series. I don't think a Space Sim genre swap is the best route for StarFox as it alienates the casual/family audience and Nintendo always strives to create games are in the middle ground of casual and hardcore.

the negativity is strong with this one.

Yes, I don´t know why, we don´t know anything about the game, you can be all the positive or all the negative you want with this one, and people is chosing to be very negative.

I´m very happy knowing that this year we will have a new Star Fox and I don´t care if it´s a budget game at 40$, you don´t need 100 milions to do a good HD Star Fox game, I´m not expecting the game of the year, just a good star Fox, maybe the kind of game that gets around 80 - 85 on meta, I will be more than happy with that.

Pretty much. It's not even like No Man's Sky is a genre that wasn't around when the first Starfox came out either: it's basically Wing Commander or TIE Fighter for the modern era (which for the record is not a bad thing).

I disagree. What makes an arcade shooter an arcade shooter is that it is tightly designed to provide continuous action, escalating challenge, and a method of improving your score. An open world design, especially a procedurally generated one, is anathema to all of the above. And if you turn the all-range mode sections of Starfox* into massive arenas, you'll lose the arcade qualities: the design will feel bloated, the challenge will be uneven, and most importantly score attacking will be impractical because the levels will take too long to complete.

If you're asking Nintendo to make Starfox into a more ambitious title than a mid-90's game, few will disagree with you. But since you're asking them to make it into a different genre, I can't agree.

*I already hate those sections, for the record. They already feel slower and more bloated than the on-rails sections, and make me feel like I'm playing a different game.

not as big as the long awaited tube slider 2.