Not necessarily. Did you see the huge Wolf piece he's got on his page? There's a picture of it in the "W.I.P." and then in the "About" section. He's also already done a P2 bust, so unless he's doing this as a masked variant, I'd assume this is something along the lines of the huge Wolf piece.I'd say it's a bust. If you scale out the size of the head in his hand you would end up about 1/3-1/2 scale. Don't think he'd do a 2'-3' tall kit.
We could both be wrong, though, so I guess we'll just have to wait and see when he drops more photos and info.
Trying to wait patiently...