— Lets hope not :)
I took another look. This time they are wanting to get funding before even starting it seems. For all we know it could be completely text based. They really havent promised anything except for an old school rpg, lol.
It looks like they have (or are going to create) the games framework and have two seperate campaigns. That if you finish one you can port your old characters into the next.
You could be right Helladen , when I think of old school rpgs though what comes top mind is; tons of items, almost monotonous item management, deep character customisation (to the point that you are able to gimp your characters if you make the wrong choices), heavy storylines, long interactions with dialogue choices.
With any luck it will be an awesome game(s), we will have to wait and see.