Is this Beyond Good & Evil 2 footage?

A video has appeared on YouTube that its uploader is claiming is the first gameplay footage of UbiSoft's Beyond Good and Evil 2.

We were alerted to it by Twitter chat, where it was suggested it could be faked footage, but on further inspection -and bearing in mind it's proximity to E3 week - we're inclined to think it might be genuine... what do you think?

Expect more on this later on.