Deep Down is using the Capcom's "Codename: Panta Rhei" engine, the technology that will serve to create the company's first Playstation 4 games.

Former Sony executive Shawn Layden has "no idea" what happened to Capcom Deep Down game, which disappeared after announcement.
Still sucks we haven't heard much from it. Really liked the concept behind it, and I feel like I was one of the very few who liked the game's music. A shame it's in hiatus as of now.
I think Platinum has been overextending itself for a good while now. Scalebound was canceled after missing deadlines and Bayonetta 3 has shown nothing since its announcement in 2017.
While the game never came out, I don't think it was time wasted. If you look well at how the camera follows the character and how it moves around during "gameplay", you'll notice it's spot-on identical to the camera in Resident Evil 2 Remake. Deep Down might have been cancelled, but it most likely became a proof of concept for Capcom in development of the REngine.

Don’t count this game out just yet. Are we going to see Deep Down release on PS5?
Hopefully its still in development and will be released on ps5 because deep down trailer looked amazing when showed years ago
Hopefully it maintains the technology (like their fluid/particle simulations) and 4 player co-op

Here are 10 major video games that are missing in action from the public eye, and we hope to see them make a triumphant return in 2020.
Online only?
That wasn't the least bit confusing...
No wait - YES IT WAS!
If i heard Ono right he said that Capcom & SCE are working together in making this game so that will explain the possible exclusivity of this new title.
It looks very Dark, Demon's Soul which is awesome. The online aspects are very interesting as well. A promising new IP.
inb4 I KNEW THE TRAILER FROM BACK IN FEBRUARY WAS FAKE!
Can't see the video,anyone mind telling me how the gameplay looks?