Seems like the release video shows the fly spell (timestamp 1:01). If that's so, fly looks a lot more like Feather Fall than full-on angel wings.
It will probably work like in D:OS2 - you hover over the ground not interacting with surfaces, and you will get an extended “jump”.
Personally, I don’t mind it. While it doesn’t quite sell the fantasy of flying, it also ticks off most boxes I would want from “fly”. That is definitely one of those things I am more then willing to let slide.