A few words from the studio:
'We’re calling this footage the “Midas Moment” since is shows Kratos’ battle against King Midas. It really showcases the living/breathing world with the environment completely fleshed out with people reacting to Kratos’ presence and every action. The terrain is volcanic with lava all around providing a great glimpse into another part of the world Kratos will explore in Ghost of Sparta and another example of the breathtaking art found in the game. This scene also shows off a more immersive “in your face” battle with up-close and personal brutality. It cinematically presents the brutal, bulldozing force that Kratos exerts to obliterate each and every obstacle in his path (think Poseidon kill in GoWIII). And with the inclusion of King Midas, it seamlessly integrates another popular character from Greek mythology into the GoW universe.'
From the Official European Playstation Blog