This is a couple minutes of gameplay for Ninja Gaiden 3: Razor's Edge, the Wii U launch title that carves through dough-headed stooges like this and still can slice a tomato like this.
The game throws blood all over the screen as Ryu traipses, mostly unchallenged, through what appears to be an early level. On-screen commands allude to a new feature called "Ninja Skills," which allows you to level up and unlock new weapons with the XP you earn in battle.
Tecmo says it's a reboot. Looks like the same old Ginsu-fest to me.