As you'll see from the "Destination PlayStation" (ie a retailer-only event) title card, this isn't an official consumer trailer. Doesn't mean you can't watch it now, though.
Not sure why this was shown at a PlayStation event, but then, it's far too elaborate to be a fake. Guess Ubisoft were peddling more than PlayStation games at the recent get-together.
As for the clip, it's like stepping back into a time machine, with the clock set to 2006. A time when the Wii was unreleased, there was potential, there were silly trailers with people acting like it's The Matrix, and there was a Red Steel trailer showing graphics the final product will never manage.