I think it's the last chance to see a new Braben's Elite. As being an Elite fan I had no chance but to back it.

We haven't get much details about the game and how it will be played. However Braben already stated :

The underlying network technology to support the multi-player version of the game is almost done and stress tests are being carried out to ensure it can support large numbers of players. A single player version will also be available.

The Multiplayer part won't be an MMO, from what I understand in KS page:

Multiplayer: you will be able to control who else you might encounter in your game – perhaps limit it to just your friends? Cooperate on adventures or chase your friends down to get that booty. The game will work in a seamless, lobby-less way, with the ability to rendezvous with friends as you choose. This technology is already working, using a combination of peer-to-peer (to reduce lag) and server connections.

That's basically what I wanted for Elite. Games like the Evochron series, have already explored and extended original Elite. But it can be improved, and that's what I'm expecting from a Braben's version.