If by 'reminiscent' you mean 'shamelessly ripping off', then yes. I'm not one of those guys who goes around hating on voxelly games, or calls them all Minecraft clones (I really like Sky Nations, for example), but the only thing 'new' I saw in this entire trailer was the weird little box creatures with the hammers. And then there's the writing in the description, which is both uninformative and full of bad grammar.
TerraZone an action RPG survival/adventure voxel-based game. Terra Zone is game about wars, adventuring and doing some survival with your Oreo Minions. And defeat those Goblins, Orcs, Dragons... As all monsters are medieval weapons are also going to be medieval. Some of em are going to be equipable and some are not cuz they are going to be multi-block structure.
I'm leaning towards a no on this one, but Sky Nations has proved that you can't necessarily judge a voxel game by its cover.