You can play any fighting game and make it look sim or arcade. I heard people on this forum say Fight Night 3 was totally arcade but I never found it to be this way. If you wanted to make the game sim, you moved around and boxed a little.
One thing thats clear from the video is that Dana and his opponent have no idea how to play the game. They were just button mashing and trying to throw punches. No one tried to take anyone down, block any punches or even move. I doubt the game will play like that.
With that said, my expectations are low. I dont expect this to be the end all of MMA games. I just want a big roster with great presentation and a game thats better than the crap UFC games that they released in the past.