Its not even close to Megaman Zero,
The plot? sounds very similar. The idea that you play as X, and then you have to play as Zero to defeat an infinitely powerful X gone mad? That's the original concept plot for Mega man Zero. Zero vs. Mega Man X as the tyrannical ruler of N.A.
The only thing that resembles Megaman in this video IMO is the armor, even so they changed it drastically to worse.
It's not like Mega Men are strangers to different looks. X looks different to Classic Mega Man, (although granted they share a similar theme) Command Mission X looks QUITE different than X series X, and Rock Vollnut/Mega Man Trigger looks VERY different from either of them. They do however, share a theme of being blue.
Oh and let's not forget the Zero series X. Both Cyber X and Copy X look nothing like X series X. And X himself often changes appearance midgame with his Armor upgrades. So the sci fi look is not an issue for me, In fact, they kept a very basic recognizable X helmet. with the red gem, the "mohawk", the "ears", and the pointed helmet brow. The only thing they added to it, is an X shaped visor that forms over his face when he's in combat.
The Gun is also a strange hybrid of Arm cannon and Buster Shot, considering it is a gun, like the Zero series, BUT, it actually does form out of his own arm. He also carries the same default moves. He can dash, shoot normal shots, and shoot charge shots. (although they changed it to a machine gun for the regular shots, and missiles for the charged shot) According to the report, he can do all the things regular X could do.
Its like that Bomberman reimagining fiasco.
Not really. X series has already always tried to be darker and more mature than the Classic series. It's about a genocidal robot apocalypse army for God's sake. X4 even tried to be edgy by showing reploid blood. Then the Zero series took the darker setting of X, and cranked up to 11, with a full blown apocalyptic war, the killing of nearly half the world's population in both Humans and Reploids, the environment shot to shit, leaving only ONE sole surviving Civilized country, with the rest of the world being a wasteland, a genocidal copy of X who indiscriminately kills his own kind to solve an energy crisis, blood in-gameplay, (japanese version only) and the graphic representation of robot enemies being sliced in half.
Oh and more mass murder by Kraft when he shoots Neo Arcadia with a giant laser beam in an attempt to kill 1 person.
The franchise is no stranger to "dark and gritty". And we know little about what this game would have been like, other than the fact that it seems to keep most of the X series elements intact, (including movesets and basic story ideas) and interjects a little bit of Zero series into it by making a Zero vs. X climax.