Tool played a new song called "Descending" live in 2015, which guitarist Adam Jones later on confirmed would likely be a part of the new album. In 2017, Jones said "Descending" was only one portion of a new song and not the whole thing, even though it was pretty long.
Up to now, we've only heard iffy cell phone quality audio of the new song. Now in a trailer for Tool's upcoming $500-per-ticket music clinics, we're treated to about three and a half minutes of "Descending." You can hear a crowd right at the beginning of the song, but the recording itself sounds like it comes right from the front-of-house board.
As for where this clip actually came from, one Reddit user thinks this "may have been a soundboard recording of the soundcheck/VIP event they did previously." I'd hesitate to say it's a demo too because again – there's clearly a crowd cheering right at the start of the clip.
Tool is currently in the studio knocking out their long-awaited new album with producer Joe Barresi.