Pokémon, in first person, played with an Oculus Rift plus a 'virtual reality treadmill' called the Virtuix Omni—which allows you to walk around naturally in a game. This is the future, folks.
This is probably the most 'realistic' way to play Pokémon, too—imagine running through tall grass when your entire party is almost wiped out, or walking through a dark, Zubat-filled cave? I'd play that.
And in case you're curious...the game being played in the footage looks to be Pokémon 3D, a fan-made game that recreates Gold & Silver: