This sounds mind bogglingly huge so everyone is talking about it. I really hope it is all that we the consumer
dream it will be but the game designer in me has to question it. I'm not a fan of procedural design. Call me old fashion but I don't like putting design in the hands of programmers. Sometime you end up with a pretty tech demo rather than a game. While I love open random sandbox game play I still think there needs to be a designer guiding the fun. If not No Man's Sky could be an entire galaxy of the same few algorithms that you quickly tire of looking at.
This is all speculation on my part. I'm really just like the rest of us watching the video and keeping my fingers crossed.
UPDATE August 2016: Well now we know don't we. ;)