If I were to pick one big reason, it would be how they approached story & puzzles.
Old KQ games had puzzles, and a story woven around them - so you had interesting & crazy stuff you had to solve, and the story would be told by memorable actions, like a fairy tale. It was fast-moving, and full of moments like being eaten by a whale, riding dolphins, going to hell, becoming a troll, etc...
Nu-KQ does the opposite. They sat down, wrote the story they wanted to tell, with all the jokes, cutscenes, etc... then added puzzles along the way "because it's a game". Everything is slow, overly explained and telegraphed. And instead of magical twists, you'll likely just get some lame slapstick comedy (often while doing a QTE), for that's what the devs like. There's ZERO sense of wonder.
Paraphrasing Warren Spector, Nu-KQ is a game about how clever the developers and writers think they are. You're not playing your story, you're playing to unlock the next bit of their story.