It appears to the the upcoming definitive edition remaster.
It looks like the power is somewhere between Xbox 360 and Xbox One.
The specs I saw showed it with 4 GBs of ram, which would put it clearly above Xbox 360/PS3 power and even a bit above the Wii U, which can do way better looking games than Xbox 360/PS3.
We shall see what the final specs and games look like, but what they showed off looked pretty good. It won't be PS4 Pro or Xbox One Scorpio powerful, but it's a device you can use on the go (or for second-screen gaming, which might be the killer app here).
