Looks legit, reminds me of Battle star Galactica! Lots of good ideas, MMO's have plenty of good ideas. Haven't played a space MMO in ever, that could be neat.
The best part of this is that it's past the halfway mark as far as development goes. Most, if not all, of the features mentioned in the above video are already built, they're just putting the polish on.
Here's the creator's actual announcement video.