They don't sound like the usual indie hopefuls with more ambition than experience, if the two main founders really did work for the companies mentioned on their website:
"lead by industry veterans Jeromy Walsh (Liquid Entertainment, Pandemic Studios, and Microsoft) and Eddie Smith (FASA Studios, Bungie, Microsoft, and Sony Online Entertainment)"
The combat looks a little strange, I don't think it will be as good as M&B combat. I didn't like the swishy graphical effects from sword swings (though some of the animations looked quite good when the player was alone in a forest) and the general look of the armour is a bit fantasy. Also, the player runs across a sloping rooftop and then somersaults two storeys down to the ground, his knees don't even bend as he lands and he is running immediately as if it wouldn't be a problem. Other than that, I can't see anything negative about it; obviously it faces the problem of every MMO, the uncertainty of attracting and keeping a large player base, but given that they have reached their funding goal of $900,000 after only 10 days (according to their website) with over 7,400 backers, there is clearly a fair bit of interest. For every backer, there must be many more people who've viewed the kickstarter and liked what they have seen, plus 10 days is a short time; the game's profile has surely not reached its peak yet. The kickstarter video gives the impression that they have thought through what needs to be done to overcome the obstacles that trip up other MMOs; if they can do that then they can keep players playing.
I think their approach to death is good; it makes dying mean something without it being an instant end to your character. Being able to have children who can be controlled by NPCs or a friend, or taken over by you upon your initial character's death, is a smart move too. It should give the player a real sense of family and continuity, whilst knowing that none of these characters is immortal or invulnerable, which makes the world real and meaningful. The soul system should help too; giving a new character fast potential growth in the skills at which its predecessor excelled is a neat way of cultivating that sense of the world always changing without wiping out all the player's achievements and progression.
I'm not an MMO player (I did play Roma Victor for a while in 2010 though), but I think this looks promising and a cut above most similar efforts.