There was a definite fear that Red Dead Redemption 2 might be an online-only game, essentially dropping the single-player campaign in favour of a GTAO-style model with the odd campaign here and there.
Although the new trailer is light on specific details, it does appear that there's definitely going to be a story campaign and that it's set before the events of the first Red Dead Redemption. The official press blurb states that you play Arthur Morgan, one of the Van Der Linde outlaw gang who "rob, fight and steal their way across the vast and rugged heart of America in order to survive."
No specific release date was given beyond Spring 2018, but expect there to be a lot more footage and details coming in the next few months.
Right, that's enough filler. Here's the trailer.