At least we know from that bit at the end that it has First Person elements in it, but it looks like they've copied Star Citizen again by just dropping assets into a basic game engine. So I wouldn't call it a flight model.
They've disabled comments on this vid and most are marking it down. From that, and their minimal funding so far, I get the feeling that players aren't going to trust them again.
I also have the sneaking feeling that it'll end up on kickstarter. That'll probably be their next move. Again, copying what Star Citizen did.
A truly toxic project.