after approx 40 hours, I've reached max level, gotten high level gear and finished most of the content, these are my thoughts.
Overall I have to say I am very impressed by the game. Like most people, the game looks a bit silly, but is surprisingly good. I don't think i'll be playing it as much as I have now that i've reached the "end" until more updates comes out, but I never expected to have a fully designed endgame loop at this early stage anyway.
I must say, if the game keeps a steady update cycle, it will have a bright future of a popular indie MMO-lite.
My biggest "gripe" with the game is honestly just a small one (excluding the server and performance bugs). The character models are slightly too chibi/childish looking for my liking. But that is to some part of the charm, which is fair.
In the end, the core gameplay of the game is really good. With future updates adding more talents, more weapons, more content, the game has a promising future.
I could go further into detail what i liked, but honestly, there are very few things I disliked beyond what i mentioned above. The regions are massive and very well made, some higher detail to decorations in large castles and such could be made, but I go into this with what I'd think is realistic expectations for a 15 man indie dev team.
If you have any questions, let me know and I'll answer it as best I can.