Good. All 1st/2nd party would have been disappointing after Sony had 1st, 2nd, and 3rd in their show. Hopefully we get to see some Series X gameplay for AC Valhalla, and a first look at the next-gen patch for Cyberpunk that they are working on for after the current-gen release in November. Some new 3rd party marketing deal games would be nice to see as well, first gameplay of Starfield from Bethesda or Mass Effect Remaster/Remake or Dragon Age 4 from EA maybe (sadly a Harry Potter RPG reveal seems to be ruled out, Jason Schreier implied it will be announced later than August now). Hope to see some more JP 3rd party games as well, other than Yakuza and Scarlet Nexus from the May show, some new games hopefully.
I feel like AC would be a pretty pointless showcase, considering that Ubi is doing their own thing on July 12th. They'll no doubt have an extended segment showing off Valhalla there. I also don't think we'll see the next gen upgrade of Cyberpunk, considering CDPR is clearly still hard at work finishing up the game as is, and don't expect to have that upgrade ready until some nondescript time next year.
You have a point that a gameplay demo is more likely for the Ubisoft show. Maybe just a new story trailer for it, with some gameplay scenes mixed in.
I wouldn't be surprised if CDP already has a team working on the next-gen patches since they already announced them. Rather it is already far enough along to be shown is the question.
At the very least, hoping to see some new 3rd party reveals, or gameplay for teased games like Starfield and Dragon Age 4 that don't have gameplay yet.