Of course he backed that statement up with a serious one by confirming, "we are making it, but if we make everything then it's a little too risky." So, Marvelous are happy to publish Grasshopper's project - but couldn't make their bread and butter from it.
Which leaves us to believe the game is massively ambitious. And given it's coming from Grasshopper - the team involved with No More Heroes and killer7 - we wouldn't want it any other way. Here's hoping we'll hear about the game soon.