I signed as soon as it was avalaible...but I did not get in the alpha... Me sad...
In terms of game mechanic I feel it closer to MNC/SMNC (I really enjoyed it, but it did not get enough popularity) than SMITE. The work done with the UE4 is just gorgeous !
Also about this point :
Paragon too seems like it will be an interesting addition to the genre, taking the 3rd person MOBA far deeper than smite by adding an actual z axis. Granted, some gods could do that, but it was situational. Having an actual 3D environment makes for a very intriguing and dynamic game play. Although, I wonder if they have penalties for falling? What if your character causes an enemy to drop from a certain height, would they take additional damage? that would be truly interesting from a game play perspective.
I don't think fall damage will be present at all. Yes there is verticality, yes there is a jump system (as far as I can tell on the videos) but not worked enough to make it that gamechanging. It's still a MOBA at it's core, but with further shooter mechanics than SMITE.
It is still a MOBA (minions, towers, spells, ultimates, items etc...), but the shooter elements is more present than SMITE. You truly play on a 3 dimencional field, and aim up or down like any shooter game, and there is cliffs and different levels on the map that you have to use to your advantage.