Looks great to me. I'll have to play Pillars of Eternity to get a sense of the lore. I really do think Obsidian will replace Bethesda as a leader in open world RPGs considering their recent success of Outer Worlds (not to mention that New Vegas is widely considered the best of the Fallout series). As far as I know they haven't actually made a bad game yet and I'm super excited to see how Avowed turns out. Just from that little clip the combat system is reminiscent of skyrim but from what I've heard the magic will be much more developed. Overall it will be definitely be on the list of most anticipated games for me.
I recently played through Pillars of Eternity for the first time (it took me a bit to really get into it) and I'd started PoE2 just before Ghost of Tsushima came out and I couldn't find the time to play two massive games. Just in case anyone didn't know, Avowed is set in the same world which is really the key point swinging me towards being interested. I'll have to wait and see but Pillars of Eternity had solid Worldbuilding and Lore and a huge draw for me was the fact that the combat system actually felt pretty unique. I don't know how any of that will translate to a completely different genre of gaming but it's at the very least something to keep an eye out considering it's proably going to be our first big fully next-gen RPG (Cyberpunk is still sort of last-gen and Demon Soul's is a remake.) which is interesting.
What does worry me is that I thought The Outer Worlds was pretty bland. I'd lowered my expectations prior to release didn't improve my opinion of the game (and I can't even begin to care about whatever Obsidian's other recent game was...the bug one that nobody cares about as far as I can tell) and I am slightly worried about what Avowed will be. I guess I shouldn't be because this seems to be something they're fully diving into with Microsoft's backing, which is pretty valuable for increasingtheir budget. I guess we'll just have to see what they give us closer to the relese date.