It certainly looks beautiful and I love the general art direction we're seeing thus far. Very much looking forward to seeing how it might look down the line as they fine tune everything. That whole thing with the Leviathan looks simply amazing.
Regarding what we were shown here, it does seem a bit rough in some areas. The little cinematics with your team mates helping out are cool, but having that happen constantly could become grating potentially. Though having the option to perhaps have their help in disarming an enemy like the Iron Giant is a nice thing to see.
The amount of teleporting did seem a bit much to my eyes, though it still is very cool to see. Still, I find it hard to imagine there won't be tactical uses of it that make simply spamming it seem not quite as efficient as if you were using it in a more strategic fashion.
I truly hope they give us little trailers like this showcasing aspects of the game such as more areas of combat to exploration and towns and such. They've finally debuted it to the public again and they should maintain that interest until release. I also want to know more on how the leveling system will work. Is it like KH where you gain some new abilities that you can choose to have active or not with each level gained?
And this may seem odd, but I'd like to know more about equipment as well. I'd imagine you can outfit Noctis with several different weapons in each type with different bonuses perhaps coming with each one.
On note of random plot musings:
Noctis and his father's abilities appear to stem from the crystal if I understand correctly. So what happens if the crystal is taken or destroyed? Does he simply become severely weakened or lose his abilities altogether, perhaps having to tap in his special l'Cie powers when the crystal isn't a source anymore?
I'm not sure where the scenes we've been shown in previous trailers take place in relation to what we're shown here. I'm leaning towards before this event myself.
Given the Hamlet homage, is it perhaps possible that the hooded guy we've seen Noctis have a confrontation with might be related to Stella? I'm basing this partly on that he seems to have blonde hair (which doesn't mean much admittedly) and that it would make for a parallel perhaps with Ophelia and her brother whose name I can't recall.