“As previously mentioned, this is an online multiplayer title at its core, but this doesn’t mean that we as a company have decided to shift to a more multiplayer-focused direction with titles going forward,” said Miyazaki in an interview with Nintendo.
“The Nintendo Switch 2 version of Elden Ring was also announced, and we still intend to actively develop single-player focused games such as this that embrace our more traditional style.”
Yes, this was also implied in the interview.
So it seems this is more of a side-game.