I was just talking about this with some of the staff and figured I would bring it up here. I've been thinking about this trailer a lot.
The emotional poignancy and weight throughout the series has always been predicated on the idea of a universal purpose and sense of belonging for toys.The pathos in every movie surrounds a toy just wanting to connect with and be played with by a child. Their entire purpose is to be owned and singularly beloved. This characterizes everything that a toy wants and what motivates them. Through this frame of reference we have had three very moving stories about characters finding meaning and satisfaction through ownership.
This trailer throws all of that in to question. Toy Story 4 seems to ask "what if toys didn't care about that and were happier without it?" This is a bold and daring direction to take the series but it also jeopardizes everything that makes the original movies work so well. This shift threatens to undermine all of the Toy Story movies and render them, essentially, thematically unwatchable.
If ownership and play are no longer universally valuable to the existential perspective of a toy, then Toy Story 1-3 are heavily decontextualized. It means that everything the cast has endured until now was against their best interests. It means they have been living and feeling and pining within restrictive and oppressive confines detrimental to their self-actualization. Rewatching the first three movies would come with the burden of knowing everything the characters want and believe in them is ultimately wrong.
So I really have no idea what to expect from this movie. What is the final journey for a toy? For the first three movies to work, we as an audience must vicariously value the comfort of ownership the way a toy does. We have to relate to the world the way they do or else nothing the toys want and strive for would make sense. If that changes, this fundamentally changes the drama of the first three movies, and that's a lot for me to think about.
It seems unrealistic to think this movie will "free Woody" to live outside normal toy institutions. This would frame all the toys who stay behind as some sort of prisoners. They could frame it as some sort of choice - where some toys prefer to be free and other prefer to be servants - but I don't know if I can suspend my disbelief that both of these options would be equally valid and appealing. The other option is that the movie dismantles Bo-Peep's worldview, which seems regressive in its own right, and I don't think the movie will be anti-liberation.
It's just a lot to think about. This is probably the most I've thought about a movie trailer ever. If this movie is good then great. But if this movie is bad it's going to change the way the entire series works.