The main thing that bugs me about it is that, despite fan's disagreements on SH4, the series has generally been outstanding. Now with "this", there is officially a black sheep, a sore thumb that's going to stick out. (I really didn't like SH4, but it's grown on me. Still my least fav, but certainly not so bad anymore.)
I still await to see how Origins will be, and actually the arcade shooter is making me laugh! The characters look more like generic horror movie teens then your typical SH character. Better to laugh at this game then get upset by it. I bet also it's not going to be canon. Maybe like the comics, it'll be its own thing.
Correct me if I'm wrong, but that black guy is the first black character in SH, so I guess there's one thing right with this game so far. Also, I love the "Hold Your Fire!" message in one of the Pyramid Head screens! It's PH! You should shoot him on sight!
Crappy as this game seems to be, I'm not going to lie. I want to play it, and certainly would love a port.
http://ps2.ign.com/articles/765/765395p1.html IGN has an article about it. Seems it'll be based somewhat off Silent Hill 2. Joy.