Hmm, the reveal trailer had some promise but seeing in-game footage is disheartening, it's clearly an Arkane Studios game as they just couldn't leave their bloody art style out of it.

Wait, what's wrong with their art style?

Watching it gave me a Dead Space déjà vue

I was cautiously optimistic about Prey due to Arkane, i didn't like Dishonored for a few gameplay reasons + the art style, lots of people praise the way it looks, but i'm a stickler for animation and felt the cartoony or 'drawn' style they used tried to make up for generally poor animation. If you use Prey's reveal trailer as a concept it looks very real, a real man with some unknown and creepy problem, now we see in-game and it's fairly flat shaded, the little animation shown is weightless and jumpy similar to Dishonored's and if you focus on the two men's faces in the trailer you can see the Dishonored exaggerated 'drawn' style.
If the studio isn't departing too far from Dishonored's feel, the tech behind it, its animation, its style, then that'd be a shame in my eyes.

Loads of people will love it however :P, it's a personal thing.