News about the project:
https://www.gematsu.com/2021/06/new...-for-ps5-ps4-and-switch-developed-by-lancarse
The development studio is Lancarse which had nothing to do with Caligula Effect. According to their website they've provided some assistance with such Atlus Titles as Etrian Odyssey 1&2, Strange Journey and Persona Q2. Game releases on October 14th PS4,5 and Switch in Japan. The trailer should drop in about 20 hours.
Oh hey I know that name, they also did Zanki Zero. ZZ is just about the only real time (Eye of the Beholder real time) Japanese dungeon crawler/drpg. It has some issues, but it is certainly ambitious and a breath of fresh air.
They also had a Japanese exclusive DRPG called WiZmans World which is supposed to be really tough but quite fun, sadly it has no English version and last time I tried my Japanese was too bad to enjoy it.
This probably won't be another SMT revival like in the best case scenario, but with lancarse it has at least a chance to punch above Caligula Effect's weight.