Most of the gameplay trailers make the combat look very Borderlands-y, but this one made it look very Mass Effect 2-y.
I'm not sure which I like more! Probably borderlands, as I grew up on FPS, and over-the-shoulder shooters are newer. But either way I think I would enjoy the combat, it looks very active.
I hope the rewards of open world bug-smashing are worthwhile, as even though I'll be smashing stuff just for kicks, I would like to profit from my exploits.