While not a direct sequel, it is a sort of spiritual successor to Esoterica. It will not have an action shooting system in place, nor will any of the characters carry over. I can't even say that they share a universe, for sure, due to the fact that esoterica is much less grounded in reality. The surrealist theme will be much more prevalent, however, and it will play more like an oldschool adventure game. I can also say that players who experienced esoterica will definitely notice the parallels in plot.
One thing that is very similar is that it will be a complete mindfuck until the very end. Much less of an esoteric ending though, as there are no multiple meanings this time. There were diverting views on my ending commentary last time, so this will make sure there is no need for explanations. Don't worry though, it'll still be surprising, and everything will come together in a tight little package.
Timewise, it will be about as short as esoterica. In terms of development time, it is going to take longer than a month this time. The reason behind this is because I can't begin eventing until I finish all of the mapping.