Quick (p)review: Its a F2P co-op sci-fi 3rd person shooter. You play a robot and shoot and/or go crazy with the space katana on space marines, bugs, and who knows what else. It's in open beta, but they've said you'll get refunded any points you've spent if they do a character reset for release .. I believe this includes everything you've earned in-game as well as micropayment stuff.
I find it interesting at least in part because most of the F2P shooters have been PvP based, this is the first one I can think of devoted to PvE. Conversely, most co-op shooters don't have a big character progression with upgrades, classes to unlock and configure, etc.