That is a very good looking preview trailer. I've lost faith in decent Mortal Kombat series games so I don't have my hopes up. But the premise this video sets up is an interesting one. If it is pulled off it should be interesting.
According to Siliconera, the trailer was nothing more than a proposal to stoke interest in Warner Bros. for producing a new MK movie. It doesn't sound like production, cast, or even a script have been started.