Uhh yeah I'm pretty sure this is just supposed to be a tech demo of the holo lens
My reasoning: they spend half the video talking about the features of holo lens, APIs and when developers can do, how they're excited to see what people do with it. etc. Even the half of the video dedicated to talking about the game seems more focused on "this is what the hololens does" over "this is what the game is"
So the "game" looks stuffty, sure. But I don't see this as trying to show off a game. I see this as showing off the hololens.
I personally don't see the hololens as a viable game platform. One of the biggest aspect in games is level/world design, and you're throwing that out the window by just using the room the player is in, which leads to the possibility for some extremely boring levels. Plus, the art style of the characters is completely out of place compared to the real room