I never played SWG myself... but calling Planet Side 3 something dedicated to SWG fans sounds like a shameless lie to me.
SWG = sandbox style MMO like UO.
Planet Side = MMO shooter.
Clearly what Smedley was referring to will not be a star wars property. It will likely be a new unique IP. So, I assume he is alluding to the style of design and content will be equivalent, but wrapped in a different lore. I'm not at all sure by the way that this approach will please the 25K or so players that were still playing SWG when it shuttered, nor that it will appeal to all the people that feel SoE (under Smedley's command) slaughtered an MMO they are on record as loving. It could however attract a new audience of sandbox lovers.
I'm not sure I would try a brand new sandbox MMO. But, have to wait to see what SoE actually does before deciding.