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Seems that way to me. 8 skills, 4 of them based on your weapon of choice. Action Combat and dodging. Dynamic content. No real progression other than unlocking skills. No sub fee. Sure, it's taking the living world to the next step, with destructible terrain which can be good or bad.
After reading some intriguing responses, I've noticed that EQNext is very similar to TSW as well, perhaps more so than GW2. Either way, it seems to be a "new" subsect of the MMO genre, moving away from "traditional" gameplay. Which is fine, as it appears there are tons of gamers who fit into that niche just fine. Just don't discount us "traditional" MMO gamers as not having opinions that count, as I think we do.