Interesting. Could be a 3d world like graphic Mario, but with it more built like Super Mario 64, with Galaxy's free exploration thrown in. Could be a pretty big title and really good if done well.
I'll remain excited for it, it seems to be pretty nice.
I find it ironic that you noted Galaxy as being the "explorative" one, since 64 was more heavily into that area.
Mario Switch is probably the best thing here. Don't have too much to say on it other than it's looking exactly like what I wanted from a new 3D Mario that didn't want to be Galaxy 3.
My only reservation about the HP system is that it might also mean they are going back to the 64/Galaxy way of doing power-ups, where power-ups are super context sensitive. I prefer how 2D Mario/3D World handles them, where you can use any power-up anywhere, but there are still specific secrets for each one. If they can mix the 64 HP system with the 3D World power-up system though, that would be amazing.
My only big hopes for the game are that Luigi, Peach, Toad, and Rosalina (though I'd take a dignified story role for the latter, honestly, don't think it would happen though) are still playable, and 2-player co-op is an option (something they wanted to do in 64, but couldn't). More characters to play as would also be cool, like Wario and Yoshi.