not entirely, the "shared world" only has a handful of people. it has a seamless matchmaking system, rather than allowing everyone to go wherever they want. you can't encounter more than a small number of people at a given point, other than the common area.
That is the difference - no massive events, it's more like Hellgate: London.
That, and yes, they want to steer clear of people who can't figure out the difference between an MMO and an MMORPG. Once we actually see footage of the game, it will be easier to classify it, but it still may fit the definition of an MMO.
Most likely though, it's to avoid people flipping out over the whole "it's not a mmo cuz theirs no endgame" BS, and not because it isn't an MMO.



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