Just watched it and I am pretty excited, even if it's a more standardized MMO experience. It's an MMO on a console, so that in itself is pretty good.
I like the randomized events and how easy it seems to join others, by just walking up to them. Add in a TV show to watch and I'll give it a shot. Long term it probably just matters if i have any friends that pick it up or if i make an new friends.
Just from watching the mmo, I could help but think of it as an mmo version of borderlands and since Defiance seems to have a more dynamic world than borderlands, it will sit in my xbox for quite some time