Here's a description of the game from the dev:
[TERMINAL] (WIP title) is best described as a cyberpunk third person action game. I don't have an elevator pitch for the single player campaign as I want to focus on multi player for the time being. At the moment I have planned for four modes for two teams per session: Uplink, Corruption, WipeOut, and Disc Run. Uplink involves capturing a series of nodes in order to establish an uplink to your respective faction's HQ. Once a node is acquired by a team, the team gains points for every second the node is under that team's control. Corruption requires the offensive team to gain access to the defending team's mainframe and corrupt 100% of their data. WipeOut is a simple deathmatch-styled game. Most kills at the end (or up to a set amount) defines the winning team. Disc Run has players fighting against each other to steal the opposing team's data stash (I think a format such as MO disk would be neat for this).
Here are a couple screenshots and a video. Keep in mind that this is a very early build.
More information and a download of this build can be found in the forum thread over at SegaXtreme. Thanks to Tom from the Dreamcast Junkyard for bringing this game to my attention.