Remedy has made some good games, but this really doesn't sound great. The actual gameplay stuff dealing with time was certainly interesting, but why would I want to watch a TV Show in the middle of playing a game? Is this aimed at the MGS/Final Fantasy crowd that really just loves cutscenes? Except now they aren't in-engine or pre-rendered, but FMV? It's funny that he mentioned "Choose Your Own Adventure" since that's exactly what it clearly is.
This is not the future of storytelling in games. It's better than a completely linear story, I suppose, but it's still trying to tell a story like a movie or TV show would. Video Games are a new type of media that is most compelling when it's most unique tool is used - interactivity. I think the "deepest" storytelling in gaming comes from procedural games like Dwarf Fortress, Crusader Kings, X-COM, and even Minecraft.
X-COM:EU did a good job of weaving in some standard story, but using the procedural characters. When I got to the end I cared about the chosen character because she went through specific circumstances that were unique to my game. She wasn't saved from death just before a alien killed through the heroic effort of the whole team because Firaxis wrote it that way - that was MY story. That she would go on to be part of Firaxis' story was very compelling.
Another example is Skyrim. Who found the main storyline super interesting or even the quests? The interesting part for me was just the random stuff I came across or did as I went from one place to another.
Anyway, I don't think this game will have any lasting impact on gaming history, but it could sure be fun as long as the TV show part isn't horrible.