Falcom Japan released today the Free to Play version Ys VIII -Lacrimosa of DANA- in Japan. Just like the original game this version available only for PlayStation Vita at the moment. You can download it from the Japan PSN and you can clear the game’s story from the prologue until the 2nd chapter. So yes, it is something like a new demo version but Falcom said this is a free to play version.
It should be noted that you can move the save data file of the free to play version Ys VIII to the final version so you can continue the game where you finished in this version. You can’t install any DLCs into the free version.