Absolutely Shameless SMT/Persona Clone
After a reasonable of research and observation of this game, it's abundantly clear that they're trying to capitalize on Persona's popularity with "their own take" on it. That said, it's a good game, I personally plan on getting it once it's released. Solid first-person dungeon crawler, with traditional JRPG combat. Production values are a bit cheaper, but I've definitely seen worse.
For your average player it probably wouldn't warrant a full-price purchase. But, if you're a more invested fan of dungeon crawlers and are looking for something to fill your Vita library, it's not a bad choice, though you should pick up Persona 4 first as this one is essentially "Persona-lite". If you're just looking for a new IP, then I'd direct you towards Demon Gaze as it's probably the best of this genre on the Vita at the moment.
This is a very Persona-like dungeon crawler, and although it may seem like a cheep rip-off of the SMT spin-off, I believe it could be a great game. Although I don't know everything about this game, I can say I am happy it is making its way to the Vita in the U.S.. On top of the other rpgs coming to the Vita, this would make a good addition to any Persona or jrpg fan's PS Vita library. Will keep an eye on this one.