Picked this up today, yes it's more of the same, but that's not entirely a bad thing. I miss some of We <3 Katamari's more imaginative levels like the snowman and racing levels, but at least cowbear is nowhere to be seen. There is one unusual stage, where you have to collect hot things to get your Katamari to a certain temperature, while rolling cold things hurts you. That was a little annoying.
Online play is suprisingly fun, the host picks a level and you are given a specific object to collect. The winner earns cookies (and thus, the achievements for collecting 100 and 1,000 cookies)
If you haven't picked up Katamari in a while, this is worth it. There is some irritating slowdown at parts (including online play) and I nearly completed it in 2 sittings which I suppose is normal for a Katamari game. But other than that, I felt it was worth 40 bucks. I await the downloadable levels.
Gamertag is Mexistrat 3000, come earn some cookies.