Just because it's not Bethesda doesn't mean it's going to be a Fallout game. There is more than enough Bethesda hate here for people to think that's the case ... and frankly it's just wishful thinking. It's not even a isometric game point an click game!
Interplay have just lept on the nearest post-apocalyptic MMO developer they could afford to be involved with just so they wouldn't loose the MMO license. In the mean time, Masthead's been attracted by the bright shiny Fallout name thinking it can make them dollars attaching it to a game that is NOT Fallout.
Interplay is going to bleed Masthead dry, Don't expect this to ever see the light of day.