Eh, NO, it is not a realistic Mario, well, not in the traditional sense of this. Actually, this is going to be a lot more fantastical, with science fiction crossing the boundary with fantasy action. Basically, it's Lord of the Rings meets Star Wars, and I stand by that comparison.
What I need help with is figuring out what to do for the third movie. By the end of the second movie, K.Rule has been killed and DK is ready to send his army alongside the Mario and Luigi to kill Bowser and rescue Peach.