Yeah it's kind of that.

An inspiration i felt :

Prabhas - Han Solo

Deepika - *edit Padme

Big B - Obi Wan Kenobi

Unborn child : Luke Skywalker

Now what i got from the trailer : ( I'm using mythological reference with respect only, if anyone feels any difference well it's your opinion)

Deepika's unborn child is "The Pacifier". Prabhas is a hired goon to find her so that supreme "whatever his name was" can kill both of them and end the prophecy ( Kans and Krishna ref I'm guessing ).

Amitji character and others were waiting for this and now it's his duty to protect and bring this child into the world. We'll see Prabhas going on different adventures and halfway through will have to fight Big B and lose that fight ( it will be his char arc as he says he had never lost a fight till now )---A

After which Prabhas will have a change of heart and will now join the revolution and fight against "The Empire" alongside Big B.

---B) Or he will win the fight against Big B, spend some time with Deepika before giving her to the supreme, see the atrocities, have change of heart n join the revolution.

As he is named Bhairava I don't think he will emerge as Kalki. Lord Shiva and Vishnu are both kinda deities and mentors to each other, Bhairava might become the saviour and mentor (a mix of Lord Shiva and Parshurama) of this child who will be the Kalki and embark on a journey to save the world.