I finally tried the demo. It's rougher than a cob, but playable. Part of it seems to still be in Chinese, but it's not difficult to figure out.
The gameplay seems okay. I sunk three ships. The ship modeling is tolerable, but nothing special. The demo reminded me very much of, "Battlestations: Midway" and, "Battlestations: Pacific".
So the conclusion is, if you're interested in an arcade naval title that's very reminiscent of the Battlestations titles, you might like this when it's ready.
If you prefer more serious naval fare, it probably won't be terribly interesting to you. Personally, I'll be patient and wait for, "Battleship Command".