Stretching the limits of "inspired by"

Oooohhhkay. I just watched this trailer for the upcoming Disney adaptation of The Nutcracker, and it doesn't seem to have much to do with the ballet or the book. Plus, no one seems to speak much, so I'm wondering if this is more like a live-action version of Fantasia, but with a little more story-telling thrown in: a collection of music and pretty imagery that doesn't worry about a coherent plot.