I'm always looking for more good co-op games, so that aspect alone has me interested. As a fan of zaniness, I don't see any problem with this and am curious to see how it turns out.
As for the Rabbids games, I just have three of those, but I actually thought they were pretty good for what they were. It seemed to me that they suffered more from oversaturation than a lack of quality, though I haven't played the latest ones. It's been a while since the last release (I think...), so I don't mind seeing them again.
Still a better idea than Federation Force...
Them's fightin' words!