Saw this today.
Cliffs:
1. Mods will be available in Fallout 76 but will not be available at launch. He also said "You will be able to have your own private world and be able to mod it." Some people are saying that sounds like the "offline mode" that allows for single player but then he says later in the interview that you cannot play offline. As usual Todd Howard is the master of not giving a straight answer about anything.
2. There are no NPC's which makes it hard to understand how this system of quests and story line will work but Howard says there will be robots, terminals, and holotapes. Its a discovery type quest system where you have to find something in the world to start the quest like a letter or terminal. He does add that the idea of running into a group of raiders, for example, won't happen in Fallout 76, those will be real players.
3. Howard says he does want there to be some drama in Fallout 76 but he doesn't want it to be "griefy" and that Bethesda will "dial it in" so that its now. I have a hard time believing you Todd.
4. V.A.T.S. is still in game but its real time, it does not slow time. It will allow you to pick targets so if you are not as good a twitch player who can hit head shots on the fly, you can create your character to be good at V.A.T.S. so that you can level the playing field somewhat.