Gotta take damage to build limit. Personally, I cant see the battle system as anything other than a modern take on the old system. FF7 was NEVER turn based, regardless of what people mistakenly think. With the blue bars being (I think) ATB gauges, it's just like the old system except now regular attack is a filler as opposed to something you need to wait for. You still need to wait for command attacks and magic, and no doubt these attacks will do more damage than a regular attack to make them worth waiting for and using. You see Cloud in the trailer using some flip attack which costs him one blue bar and does 618 damage as opposed to the 30 that his regular attack does.
Thats actually a very comprehensive and sensible observation! Thank you! It really doesn't look like FFXV combat to me (thank god), your description makes sense with the footage we have seen and the combat loop ties to the original.