Does look pretty nice yes, I hope it will do well enough to scare the sims developers into trying harder again.
So far it does seem to shape up to contain more in the base game than any sims game had, but seems it might still take years and I won't get too excited untill I see the people and their customisation.
Build tools look very solid, they're definately going to beat the sims in that department. But making fancy houses, while great for builders, won't help if pathfinding is awful and the people living in it aren't interesting.
I'll certainly keep an eye on this game though, looking forward to them showing the characters.
