Predictions:
The Royal is an Apocalypse style alternative story, taking place concurrently with Persona 5 (has to be due to Akechi's presence), maybe extending past the end of the game too.
Scrunchie is the protagonist. The Royal will be somewhat experimental for Persona, having her as a fully voiced protagonist (based on her having lines in the trailer). Presence in Smash, and being an alt of Joker meaning she likely has a similar starting Persona/skills, and her design would support being a protagonist.
It could be an action game, based on previous job listings, and in the vein of being experimental for a new development team.
There will be at least one other announcement on the second day of Super Live.