It looks like an extremely early build of Visceral's Dead Space, but it's not. The clip above is a full play-through of Noxious, the final project for the Game Development/Art class at Full Sail University in Florida. If you want try it for yourself, it's available as a free download.
Forgoing Unity or another third-party package, the class built the engine from scratch, and all work was done over a five-month period. It's a really good effort considering the short development time and the use of their own tech.
It may not be original, but that's actually not a bad thing. If you're a student learning games development, it's a great idea to have a go at duplicating a triple-A title to figure out exactly what's involved, how difficult certain features are to implement and ultimately, gain a deeper understanding of why certain decisions were made, especially if you disagree with them on the surface. When you don't have to worry about the overall structure of the game you're trying to make, you can focus on the nuts-and-bolts, putting-it-together aspects (so the productive bits).
Let's hope the students take the knowledge they gained from this outing and put it into something they can truly call their own!