Not only that but I believe they stated that there will be a version of the cryengine available similar to UDK so even if there isn't a sandbox we could still use the engine.
BTW: can anybody at Crytek confirm this? I mean besides the one statement.
In all their Trailers showing off the engine it seemed to show off the new UI and such so i think it would be non-Crytek of them not to include it in it.