This was announced quite a while ago, even before the Witcher 3 was released.
I have to admit to having completely giddy with irrational excitement over this game. The Witcher 3 was one of those rare games that I absolutely loved despite it doing badly almost everything that I usually associate with “good” games. I am sick to death of the fantasy genre, and I absolutely love cyberpunk (both Snow Crash and Neuromancer were fantastic, plus I am a huge fan of Deus Ex), so to me the idea of a cyberpunk Witcher is just over-the-top exciting. I have no idea if that’s what Cyberpunk 2077 is going to be, but I sure want to find out. Plus, maybe there is some possibility of this being a shooter (or otherwise something better than the hack-n-slash combat of the Witcher).
With just about any other game this would have been a rant about how cinematic trailers are terrible, and how no developer should ever make one. It just goes to show that they work if you have some preconception of what the game might look like, real or not.