It's been confirmed in the single player and co-op for sure. For co-op, you go on missions (think: skirmish games) with your friends, play game, get loot, upgrade your space/chaos marine squads/orkies/eldar (assuming eldar and chaos will make the third and fourth playable race).
The real gem-and what they haven't annouced yet but what I hope for-is that the competitive multiplayer has the same kind of loot, with loot rating ( like warhammer unit point costs) and gaming record forming your online rank for matchmaking play.
Even better? A system where you could have different loot loadouts from your collection and choose one when the game started depending on map and opponent , ala the home city deck system that kicked all kinds of ass in AOE3. Also, loot trading and rarity and what not.
It'd be brilliant, and Relic is the only studio out there that could pull it off (Blizzard is too conservative/beholden to their Asian fanbase).