Visually, and even artistically, I have doubts. Getting away from that for a moment, though, the concept here is easily the most exciting 343 Halo has ever been.
Exploration, free roaming, and player choice (in the context of gameplay) are at the heart of Halo's DNA, something 343 never seemed to realize from my understanding, and this seems like a modern evolution of that.
Exploring the ring, 19 years later, with all the things we've learned technically and in gameplay, with full wildlife, giant vistas (sorely mostly missing here), new mechanics, sounds like an excellent place to start for making a good, satisfying Halo game.
My counter concern though, is how generic that map screen looks. I want Halo, original soul and all, without limits, not Far Cry with a Halo skin, and that needs to be an important distinction.