The video skips around a little, but provides a sense of what the moment-to-moment gameplay is like. We see a great deal of combat--which is particularly bloody, with the player becoming covered in blood during one encounter--some of which happens with a friendly NPC doing battle at the player's side.
Sony notes that the video shows off the saw cleaver and heavy axe weapons, "both of which transform and can be wielded in short and long forms." We also get a look at the Regain system, which restores your health when you stay aggressive and counter enemy attacks.
Bloodborne does not yet have an exact release date; Sony has only said it's coming in "early 2015" for PS4.