It's a very pretty video, with very pretty music, and it takes just over two minutes (2:10, to be precise) before actually fading into any gameplay from the game itself. And yes, it's Tetris. Like, literally, just Tetris but with Tron's aesthetics.
According to the game's Wikipedia entry, Tetris Effect has been in development for 6 years. It took them 6 years to add Tron's glowy graphic style to the now-34-years-young Tetris. Oh, and a pause button, or "an all-new Zone mechanic that allows players to stop time," as it's gushingly called by UploadVR.
Available soon on Windows, PS4, and PSVR, Tetris Effect should be all the proof you need that creativity is dead. They spent six years making a VR version of Tetris, in an environment where you can't turn around and spit without hitting a free version of Tetris, and thirty four years after Tetris was first released. In thirty-four years, nobody has succeeded in adding anything of worth or note to the gameplay of Tetris, and I don't expect that Tetris Effect will succeed where everyone else has failed.
The fact that this utter failure of creativity features prominently on UploadVR's list of E3's Biggest VR Announcements should tell you everything you need to know about the state of VR, right now.