This doesn't sound half-bad, actually. I'm tired of RPGs shamelessly fellating the player (a consequence of playing too much Owlslop), playing second fiddle to a more important character or faction can be a refreshing experience.
Sure, if the story is good and the characters are cool. Do you think that's the case here though? At least with a player-centered mediocre RPG you can enjoy the power fantasy aspect of it, but otherwise if it's a passive experience - might as well just watch a TV show with a cast of characters that you like. This sort of companion focus is a bad trend in video games imho, part of the broader insistence on a 'cinematic experience'. And in the case of RPGs, it's another aspect of the whole casualization of the genre by taking influence from stuff like action adventure games where this sort of cinematic focus is a more pervasive trend (for better or worse in their case too).
I don't mean the cinematic focus on other party members instead of the player character, I mean the narrative in general being focused on more important characters and factions than the player. Of course, I still expect the player character to have reasonable amount of "screen time" and roleplaying opportunities that allow for proper player characterization and self-expression via moral/class/skill/background/whatever reactivity.
Like in Age of Decadence or Colony Ship, where you don't play some kind of hot shot heroic world savior, but a cog in a faction machine of your choice who eventually gets some important things done. Another example would be playing a supporting character for Martin Septim in Oblivion.