If the direction is still the same as it was some time ago, there's another huge announcement tied to this that'll likely happen simultaneously or soon after, which nobody has heard or mentioned anything of. That could mean it was scrapped or is under particularly tight wraps. I'm hoping for the latter :)
This is interesting. Only other rumor I've heard is Half-Life 3 VR, but that's not very popular. We'll know soon enough if they ditched whatever it is though.