It's an 8 Player PvPvE title according to Fromsofts Japanese YouTube channel.

I dunno, looks like it might be cool. The most fun I had playing fromsoftware games was probably playing Elden Ring in coop and then using that item that allows double invasions. The chaos and mind games are real fun, but I'm not too sure that would translate into a more competitive type of game. Kinda hope that whatever they learn from these two multiplayer games translates into a somewhat more elaborate multiplayer component to their next big RPG, it's a shame that their multiplayer components kinda stopped evolving after Dark Souls 1. I want more weird shit, covenants and different kinds of invasions again.

Pretty funny though how Elden Ring Neightrein kinda looks like the much less elaborate version compared to this and that's not only a spin-off to their most successful game, but also like not exclusive.