Okay, general thoughts and uhhpinions you all have been waiting for.
-This is Dark Souls 4. I don't think it really bears discussion. It's not a spin off or a souls-like, it's Dark Souls 4.
-The game is very comfortable and familiar. Same leveling system, same death system, same stat system, same weapon mechanics, same exact weapons for the most part (just reskinned), same FP/flask mechanics from DS3, same upgrade mechanics, same 'stat scaling' meta, same exact magic systems (pyro is rolled into faith tho), same backstabs/counters/parries (with one new move in the form of the guard-counter), same bonfires, same equipment weight mechanics, same poise, same dodge i-frames, same item mechanics, same storage box, etc. etc. etc.
-In many ways I am shocked at how derivative it is. Sekiro and even Bloodborne were more innovative. The new aspects of the game are the open world and horseback riding. These are really fun and neat but I don't think 'Dark Souls + A Horse' really makes this a new franchise.
-I'm sure series purists will write a 17 page thread on how I'm wrong and They Changed Everything and Now It Sucks. Some minor changes are mostly QoL stuff--there are now checkpoints in addition to bonfires, there is a map, you can fast travel from anywhere, there's no humanity/ember mechanic (that I've seen yet), you can stealth-crouch, you can jump without pressing 15 buttons, they added summons that are not limited to pre-placed NPCs. I see these as streamlining and refinements, not innovations. Feel free to disagree.
-It's the same basic content and progression of DS stretched thinner. Be prepared to explore an entire dungeon for one weapon or one accessory you probably won't use. They kept the paradigm of all weapons being unique, no random drops, not even blood gems, so everything is deterministic. I'm not saying I want a diablo-loot piñata game, Nioh has that covered, but I wonder if these systems make sense when you're going from the dense metroidvania layout to an open world. It worked in Gothic, but in those games almost every new weapon is a straight upgrade. Which brings me to the upgrade system...
-...The upgrade system drives me to despair. This is something I really wish they had changed. It kills the fun of finding new weapons when you have to grind for upgrade materials just to make them worthwhile. In the early game mats are rare enough you can't really spend them frivolously, and even once you have reliable methods of getting them you're looking at a tedious grind just to find out if a weapon is even viable for your build. The stat-scaling mechanics are only vaguely shown to the player so you have no idea if something is going to be competitive long-term or not unless you spend the resources, none of which can be recovered. It pretty much demands a guide. Then in the end everything is like +/-5% difference in the name of 'balance' so it barely matters what weapons you use anyway. I don't really like the idea of using a basic longsword for 50+ hours yet, here we are.
The upgrade system allows the freedom of making any weapon you want viable for the whole game, which is cool IF you really want to be a level 1000 Rusty Hilt Master, but the material grind fucking sucks. I wish they had changed to something else, like a proficiency system (so your upgrades can apply to more than one weapon), or a skill point system like Sekiro, or maybe use the covenant system for weapon upgrades, pray to gods for weapon blessings, etc. Anything is better than digging for titanite shards.
-For bosses, they seem fine so far. Margit is the classic early wall boss but to be fair you can do a shit ton of other content before fighting him. We've come a long way since the Capra demon. Margit straddles the line of a boss that is fun and a stupid bullshit boss, and since he's early I'd imagine they may get worse. It's one thing where a boss has attack patterns you can memorize, counter, and punish; and another thing with a boss has 1 million different move sets and almost all of them do not leave an opening (i.e. Pontiff Sulyvahn). Margit has a couple combos where if he tags you with them you're pretty much toast; this is in contrast to the classic souls boss where each mistake costs you a flask but not necessarily the whole fight. So far I haven't seen anything that comes to the heights of Ornstein and Smough or Ludwig; big fuckers who just thrash and jerk the camera around are not impressive to me. (okay Ludwig does this too but he is awesome and has great music so he gets a pass). It's still early though so its an open question.
Other random thoughts:
-I didn't realize the horse could double jump, so thank you whoever for mentioning that.
-Everything is YUUUUUGE. You really are the furtive pygmy in the land of giants
-I found one of those horse-jumper pads, I thought it would bring me up to a scripted landing place. NOPE. It sends you in whatever direction you are facing, I was looking at a bottomless pit so into the abyss I went. Love it or hate it, the lack of hand-holding in DS is refreshing as always.
-I found a teleportal behind the forest church sending me to the far flung corners of the map, the enemies there kill me in one hit and drop 1000 RuneSoulEchos a pop. So that is a thing for power grinders I guess.
-Spare Patches and you can buy 'father Gascoigne's music box' for Margit. You're welcome.
-The ability to approach enemy camps from multiple directions is different for DS and actually provides a Far Cry feel. Almost every location has at at least one alternate path or approach for dealing with it.
-Be Bold! If you see something scary and think you maybe can't fight it, give it a shot. The giants, the bears, and even the dragon are all beatable sooner than you may think.