The game is out in Japan so there are probably full playthroughs out there. In this video they start it off from the beginning. You need to pick a side, which I didn't expect. It looks like you'd have to play through both sides to get the whole experience (judging by how many cut-scenes you get right off the bat). Weird stuff happening like Margaret interacting with people other than the MC. I suppose that's in the Persona Arena games right? I haven't played those so I'm not sure.
Edit: Also since this thread was bumped for this purpose, I'm hi-jacking and re-branding it as a "Persona Q is Canon" vehicle.
According to this siliconera article.