The opening seconds of the trailer sold me on the whole enterprise. It's the unforgettable scene from the start of Half-Life 2 where a Combine cop tells Gordon Freeman to pick up a piece of trash. Only you're not playing Gordon Freeman in this scenario. You're playing the Scout from Team Fortress 2, a man who has a baseball bat and thinks every problem is a fastball.
Lambda Fortress is a mod for Team Fortress 2 that lets you play Half-Life 2 (and the campaigns from other Source Engine games) in either singleplayer or multiplayer as a full suite of mercs. The rest of the trailer highlights the chaos you can cause in and around City 17 as a pack of rocket-jumping fools with access to ÜberCharge, and it looks absolutely bugfuck.