Judge Dredd is satire. I'm not entirely sure what Dredd is. From this trailer - which is the first trailer and thus is trying to be as broad as possible - Dredd looks like a pretty straight-ahead action movie. One with a lot in common with The Raid: Redemption, which was shooting at about the same time.
In the comics everything about Judge Dredd and his world is over the top and gratuitious. The justice that he metes out is fascist in the extreme, but the way it's handled we're allowed to both thrill at and snigger at it. This trailer doesn't give me that sense; it looks like a fairly standard dystopian world, not a cracked out cyberpunk nightmare. Without the world being incredibly heightened, Dredd himself is just an asshole.
That aside, everything else looks good. Anthony Dod Mantle shot the movie, and it looks lovely, especially in the slomo scenes. And Karl Urban more or less sells Dredd; I still think he's a bit weedy for the character, but he has a better Batman voice than Christian Bale, so good on him.
Dredd opens this fall. I'm hoping future trailers and clips give us a better understanding of the tone.