Live action trailers and videos from first person shooters aren’t a new thing. They range in quality from really awesome to truly abysmal (though some of the latter are roughly equivalent to your average SyFy movie). Here’s one portraying Battlefield 3 from EGM Now (note that it was made before the game was released, apparently). Pretty good work for a home project filmed on a camera duct-taped to a bicycle helmet!
By the way, if you haven’t read it, the Mad Duo wrote a review of the BF3 campaign over on Under the Radar. Check it out.