The graphics look mediocre. As a comparison, anyone knows estimates on budget of recent Rayman/DKC or other retail 2D-platformers (for example kirby)?
What I don't understand though is that why not give money to some established company who have a good track record. Even arc systems did a decent job on their first(?) attempt with Contra Uprising. Maybe they could do better next time? I remember Contra-4 on DS (which is indeed somewhat old now) being fairly good, being hampered greatly by the dual screen for the most part (can't really fault the developers for that). Don't know which company made that one.
If someone asked me three years ago whether I would want a new rockman style game or silhouette mirage 2, I would instantly pick the later. The rockman formula (from a design point) imo is close to perfected in battle kid games. Surely the BK games could rightly be called a bit rigid, but that's true for many rockman games too (I have played few of them but not all (just too many of them!), so I would hesitate to make a universal statement here).
To summarise, this looks sub-par. Also, even from level design point of view, I wouldn't be surprised if it was worse than older rockman games.