I would be afraid that any attempt to focus on players playing a game over the world and story that a normal game is trying to emulate would lead to one of a hundred different jokey parades of stereotypes and "the imaginary world is just as real" cliches.
I'm also afraid, with studio pressure, that this might end up being yet another one of those dark, psuedo-gothic, cookie cutter, teeny-fantasies that have been creeping out over the last couple of years. Van Helsing, Red Riding Hood, Snow White and the Huntsman, Hansel and Gretel, whatever that Werewolf movie was...