Update from watching some streams.
It not really an extraction shooter (although it does have some of that feel to it).
It's looking like a fairly realistic tactical shooter.
It has a persistent server with 3 teams of up to 16 players/team/server.
The guns are real world firearms (ddmk18, m4, etc) that you can upgrade with trijicon, eotech, etc optics, surefire and other cans, different ammo types, etc.
Gameplay looks a little slow as you spend a lot of time creeping through the South Asian jungles hoping a bush doesn't one tap you in the head.
I don't know if I'll be buying this one, as I don't think I'll have the time to commit to it and really enjoy it, but it looks incredible (both the aesthetics and the game play)
The comparisons I'm hearing are Tarkov-esque inventory management and DAYZ-esque gameplay.