Well most people have been classifying it as more Action than RPG, but of course, that just makes it an Action RPG.
There is Co-op and such.
Though I read that you can sacrifice party members to help defeat bosses. But the sacrificed party members don't get any experience or loot. So why would anyone willingly sacrifice? Most people are selfish. They don't want to fight a boss and get nothing for it.
IGN just says its Action. Wikipedia says Action-adventure and Action RPG.
Keyword is action. Probably the "RPG" part is the fact you kill monsters and get exp and loot and such.
Though I suppose you do have a "role" in the game. Being a slave about to be sacrificed and all. Then becoming a badass.
And then probably in the end, killing the sorcerer who enslaved you.
The only two monster hunting titles that I consider RPGs are Diablo and Phantasy Star Online (and spin offs). Both preceded Monster Hunter and they feature RPG elements such as leveling, plot, character development, etc. Ultimately, it's a matter of opinion~.
It's just that since these kind of games (Monster Hunter, Soul Sacrifice, etc) aren't anything like something such as true JRPGs, people do tend to judge them harshly when they don't meet their RPG expectations when, really, these games don't try to be RPGs to begin with~.
But again, personal opinion~.
Sadly, it's not coming out any time soon.
Comes out in March in Japan, so who knows for here?
I would like this Vita though http://www.kotaku.com.au/2012/12/this-ps-vita-might-rip-out-your-spine/
Red is awesome.