We've now got a better handle on what Deep Down actually is, a procedurally-generated cooperative dungeon crawler set in the ruins of 2094 New York City that presents new environments and monsters every time. Capcom have released a quintet of new screenshots showing some of these bleak labyrinths and deadly monsters in their unnatural habitat.
Deep Down has only been slated for PS4 at present (though Capcom's annual financial report suggests that it's heading to "next generation consoles," so an Xbox One version may not be out of the question). Western release details have yet to break cover.
Gosh, that Dragon looks rather Dogmatic to me.