Pokémon, in first person, played with an Oculus Rift plus a 'virtual reality treadmill' called the Virtuix Omni — which allows you to walk around naturally in a game. This is the future, folks.
This is probably the most 'realistic' way to play Pokémon, too — imagine running through tall grass when your entire party is almost wiped out, or walking through a dark, Zubat-filled cave? I'd play that.
And in case you're curious... the game being played in the footage looks to be Pokémon 3D, a fan-made game that recreates Gold & Silver: