Capcom Shows Deep Down at PlayStation 4 Announcement, Dragon’s Dogma Sequel?

Among many tech demos and gameplay slices shown at the PlayStation 4 announcement, a particularly notable one has been Capcom’s Deep Down (working title). As you’ll notice from the cinematic video announcement below, I think you’ll agree that it looks very much like a fantasy action-RPG. The title is powered by Capcom’s new engine, Panta Rhei, which is apparently an evolution of their MT Framework technology:

While it’s entirely possible that this game won’t even turn to be an RPG, I think I share the same suspicion as many others when I wonder if this isn’t actually a Dragon’s Dogma sequel, given the similar setting, art direction, focus, and even the similar title (Dragon’s Dogma and Deep Down).

Am I reaching? Perhaps, but Capcom has already stated that they want to make Dragon’s Dogma into a franchise, and is currently working on an expanded re-release of the original, so I wouldn’t be surprised if they tried to capture the Western attention with a revamped, much better looking title for next generation consoles, especially considering they’ve already built a fanbase in Japan.

Now the question is: will the actual title match the impressive announcement trailer? My first guess would be “no” based on past experiences with console announcements and target renders, but you never know.