I like the graphics style, but agree with you about Knack himself. Not a must play, like Destiny, Crysis 3, Deadlocked, Elder Scrolls online and other titles are, but a consideration if I find it cheap.
It all looks really cool, but its just the character. But I'm known for playing as furry chars or alpha females most. And its none of those xP
But I like to try it a friends house some time. And speaking of low budget gaming, what will the prices on the games be like?
Stuff how much the games cost, how much is the console going to cost?!
I've seen the specs and it is top end bits of kit in it. 8core AMD processor, 8Gb of GDDR5 ram, plus the latest in AMD Radeon graphics processors. Nothing on HDD size or type yet. It ain't gonna be cheap. 
I suspect the games'll still be on Blu-ray so much the same price they are now. Hopefully.