I hadn't been paying any attention to it. Seeing the trailer, it does remind me of Crisis Core, which I actually enjoyed a lot.
Personally I wouldn't care if they slapped a XV on if it turns out to be good. Perhaps that would make up for the last few installments. It will sell better with a number and they could really use a win in that column, especially with no real promise of a XV already, and having been so long since the last release.
I would rather see XV go back to the series roots, rather than release a main title as an Action-rpg.
As far as going back to the series roots, I know some are against it, but at worst it's as bad as XIII at best it makes the company look like a collection of geniuses and it puts the franchise back on top.
Also, if no one has noticed, all the MAJOR jrpgs that everyone wets their pants about when they find out they're going to be released in the US, are indeed old-school FFesque type games. Coincidence? I think not.