I was really looking forward to this mode but after seeing the footage, I am not too impressed.
The enemies are in such small numbers that it does not even look like its a challenge and they are too scatterred over the map that you actually have to go around to look for them. It looked more like how Combat Training in Black Ops would be (really easy).
Now I might be wrong because it might be earlier in the mode where the waves are easier or it might be the case of splitscreen where not many bots could be handled, but I really hope they increase the difficulty and the spawnpoints of the enemies.
I really think boss battles could add so much to this mode's potential. They have to add things in to this mode to differentiate it from other co-op modes on other consoles.
I believe HVS has something up their sleeves, but I really hope they can add things to spice up this mode. As of now, it does not look that fun to play. That's just my opinion.
My guess is we only saw the first few waves. We really didn't see all that much considering these kinds of horde modes can go for hours and get progressively harder as you go. If I'm guessing right then it should get pretty hectic, what with enemies and the other 2 players causing trouble for you.