Whether you like the game or not depends very much on your tolerance for purple prose and NPCs and objects being lore dispensers. Most of that lore doesn't matter. Others already made it clear that there is too much of this, including many repetitions, which make sure you don't miss any info snippets by telling you the same thing a tenth time. On the other hand, I actually liked the meres (basically text adventures), which probably helped.
The setting is okay, though not overly exciting. The locations vary from pretty good to boring. If what you enjoy about games most is the fights, forget about it. The number of fights will vary vastly according to your play style, but there are large stretches of the game where there will be hardly any. The point that many of the fights are avoidable is true, but that should normally not be an issue during a first playthrough, unless you read spoilers on the internet or reload umpteen times. Personally, I didn't mind that, as fights in this game take long and are not very exciting.
Don't take any statement like "there are no fights" literally. While you can avoid pretty much most of the fights, there's one fight where your PC has to get through without any companions, and then you better have something on your character to pull his weight.
I'm sure you can see most of what the game has to offer in one playthrough. This would require reloads though. Of course, you can't really experience all NPCs in one playthrough. As some NPC story arcs may mean they are dead weights for a while , and as NPCs only develop in your party (stats and story arc), you need at least 2 playthroughs for this purpose alone. Technically, you can swap them in for story purposes, too, but that again needs you to have read spoilers.
In the second half of the game, you basically win all challenges. A few of them are fun to figure out nevertheless.
In my opinion, most games have problems with their endings, and this one is no exception. It's worse than usual. It tries in some way to mimic PST, but it doesn't work. You basically have only bad options. I suppose this was meant to be a "difficult" decision, but it's not fun in any way. The game fails at making sure you have some personal responsibility here (you may or may not), and it's always bad to have to make a decision based on what you are rather than what you did (player input). Of course, there's always the "screw the world" option, and if you don't like the world anyway, you will probably be okay with that one. Oh, and your choice should mechanically match your personality (dominant tide(s)) in some way.
All in all, I liked the game enough that I didn't feel any regret to have backed it. I didn't really pay much attention to the original promises, either, so the cut content was more or less something I heard of the first time when I heard it got cut, so there was not much reason to get disappointed for me. I didn't believe that "new PST" talk anyway (call me jaded), so I had no expectations to be crushed. I liked PoE better though.
A good indicator whether you like the game or not is playing through or watching the very first intro sequence. If that one infuriates you, you better play something else.