Mostly, yes. If you're not expecting a $100 million open-world MMO.
The trailer gives a good glimpse at some of the action, plus it'll have larger social hubs.
https://www.youtube.com/watch?v=_E46DUssoPI
As their forum rep, Soundrel, put it:
"The thing is that we didn't change much about the original concept we proposed (though of course we discovered things in development that had to change and as most of you will know we changed quite a lot of our game due to feedback). It just became clear that using the term MMO to describe SRC was controversial due to the heavily instanced nature of the game that only allowed to interact with all players on the server using the chat, but to play only with a select group (of currently still 2), which for some is on the "is an MMO" side, for others isn't. That's why we decided not to market SRC as an MMO anymore.
Instead we prefer to just list the relevanant features and let the players decide themselves which category Shadowrun Chronicles falls in for them:
Multiplayer Hub for you and your runner group Multiplayer meeting areas for players to mingle All players play on one server. instanced missions for up to 4 players collective actions of all players move forward the story
but you can just play it in full single player all by your lonesome (if you ignore the chatter from the chat) as well and never be bothered with other people and play it like a Shadowrun Returns meets X-Com."
Source: http://www.shadowrun.com/forums/discussion/comment/190689#Comment_190689