Allow me to momentarily don the proverbial tinfoil hat.
We're all aware that at one point Bannerlord was being developed with the same engine as Warband, but that Taleworlds decided to create a new engine from scratch. And, as previously stated in this thread there were some hiccups along the way.
"Some decisions turned out to be exactly right while some caused problems and we had to backtrack and change them, costing a lot of time and effort."- Armagan Yavuz, 2017
Now, the earliest images and videos for Bannerlord look basically like it was using an upgraded Warband engine. They looked prettier than Warband, but they looked like Warband. Then like in... 2017? We got Gamescom videos that presumably were made with the new engine, and it showed! I thought those videos looked very good, a lot more fluid than the earlier videos and definitely much better than Warband.
Now we get this multiplayer beta video and... well... it looks like a prettier version of Warband. It looks like an excellent Warband mod. We're back to looking at "Bannerlord" images that seem like they're using the Warband engine again.
This is where I put on my tinfoil conspiracy hat, ladies and gentlemen.
What IF - and this is a big "what if"- but WHAT IF... the "decisions" that "caused some problems" and "had to be backtrack[ed] and change[d]" was the decision to make a new engine, and the backtracking was going back to the upgraded Warband engine?
Because that's what this video looks like.