I imagine this will play like a Dark Souls character with no shield, except that with the lack of shield being designed in, the fighting will be more forgiving to the lack of shield. It may be a little easier to dodge effectively for example. I'm pretty sure they will nail it.
I would be shocked and dismayed if it played anything at all like DMC or any other combo based fighting game. A big part of those games is that you're fighting many enemies at once. If Bloodborne focuses on 1 on 1 combat it should be good.
EDIT: seems to be a lot of multiple enemy situations in the vids, but they've retained lock-on and it doesn't look at all combo based. It basically looks exactly like Dark Souls with no shield.