Basically, the original game had a really awesome and subversive plot that was really groundbreaking at the time, but had utterly atrocious gameplay. The guy who's been making modern Dragon Quest games threatened to quit if he didn't get to work on a game with the guy who made Nier, and the guy who made Nier wanted to make a sequel to Nier, but he told Square Enix he wouldn't do it unless it had awesome gameplay this time around.
Some guys at platinum games fucking loved the original so they jumped at the chance to make this, and it pretty much became a passion project for everyone involved.
So yeah, I'm also hype as fuck for this game as someone who admired the original but didn't like it.