I'm just going to directly quote one of the comments on the PCGamer article:
Sums it up pretty well.
Epic have a fairly phenomenal amount of lost goodwill to make up for, so I really hope they're serious about this. Does Epic have the balls to actually do this right?
In the stream they straight up said this was only for PC/Mac/Linux.
I think the immediate aftermath of this is hilarious. They gave us exactly what we wanted, and nobody believes them. It's a PC only game, and it's free with no microtransactions. There will be an Unreal Engine store where indie developers can sell their Unreal Engine games, or put them up for free. They were very explicit with this. Y'all need to stop with the cynicism, and actually do your research before posting.