Wow... someone besides me who calls SH4 their favorite... Suddenly I feel vindicated...
I've always had a soft spot for the SH series and this is some pretty exciting news!
I can't say that I have personally played anything by Kojima (Death Stranding does look good though) but I absolutely loved everything about the P.T. demo.
I'm normally against first person games but Team Silent was always reinventing the Silent Hill experience in some way and typically revolved the series around different characters. They also featured a bit of first-person gameplay in SH4 (my favorite from the series) and frankly the demo played as though it were a more enhanced version of SH4 (where the main character is trapped in his apartment/another dimension and dealing with the paranormal). Regardless, there was still a chance part of the game could have been in third person (again, like SH4). Something else that I loved about the P.T. demo was that it reminded me a lot of the book House of Leaves , which Team Silent was heavily influenced by as well.
Between P.T. and the Silent Hills trailer that followed, it was the type of revamp that the series was desperate for if it wanted to survive... honestly P.T. reinvented the survival horror genre and showed other companies, like Capcom (with RE7), that survival horror sells. P.T. had a story that I was really looking forward to unraveling so it was unbelievably disappointing when they announced that it was canceled. I'd be shocked if they actually allowed them to continue making that exact game they previously set out to make but life is full of surprises.