Looks like competition for LT seeing as it has the same PCG highlight.
Console support isn't so bad (Steam Machines bro), having console support is fine (unless you're talking about something that's supposed to look good, like star citizen or crysis) but the mistake here is designing the games with consoles in mind rather than PCs (Why Oblivion and Skyrim were in some areas dull compared to Morrowind, mostly UI)
So console support is fine, and seeing as LT will support controllers, i don't see why not to include console support for LT too (unless it's a lot of extra dev time, or takes away something from the PC experience).
Multiplayer on the other hand... a bigger problem, especially if it's a key feature, MMOs may be ok, but if the game is based around multiplayer rather than single-player but still offers single-player gameply it always makes me feel ripped off, this game however seems to be an mmo.
I have higher hopes for LT than for that game, so far all i know about that game is that it looks good. (So you're in the clear Josh
) I've seen the technical feats LT is capable of and i know there are more to come, the game is already impressive (i mean that graphical editor is the most glorious "console" i have ever seen in-game for a video game, screw text-based consoles!)
And like i said on youtube, the node-based UI showcased in the last dev log is so good, that i want that as a Desktop UI, i want to use that to make my experiences with my desktop more enjoyable and faster. It's... revolutionary...
imagine browsing through your hard drive folders in a file manager that looked like that, and danced around so beautifully too... Imagine using an interface like that instead of desktop icons... But i digress ^_^ in the space sim area, the best upcoming one from a single-player gameplay perspective still seems to be going to be LT.
Edit: @Vartul: That's the same (& Only) trailer i posted ^_^ but it seems to have been made private, so i changed my link to a functional one. If it's as procedurally generated as they say in the trailer, then i think it's amazing... But i'm not so sure it can nor will compete with the likes of Elite Dangerous.