This... is... awesome!
I agree that the game looks a lot like Pikmin/Settlers in gameplay, but the style is kinda different and what I'm guessing is that each character is more unique than with Pikmin, where you really had an army of ants to control. So it'll be more of an issue of who to take, who has the skills for each task, and so on. Either way it looks really super good, so I can't wait to see more. Too bad the actual game doesn't look like the intro, not that the actual game doesn't look very good, but still.
Also, the Wii was designed
specifically to make Pikmin super easy to control. (STATING OPINION AS FACT IS SO 2005)
EDIT:
Second trailer. Cute taken to traumatizing levels! "Huhu!
Vank Yuu Yuh Haines! Coming! Two Fousanneight!"
How ya doing, buddy?