I'm now about 15 hours in and I gotta say I really am not seeing a lot of the complaints people were mentioning earlier in the thread. I haven't encountered "sponge" enemies yet, the pacing seems fine, I like how the game world is opening up, and even the characters are getting some more characterization in the wake of events surrounding Ajna. Combat has remained challenging and ramped up in interesting ways.
Like, I get people wanted this to be Valkyrie Profile, and the combat undoubtedly is (though honestly, way more engaging than VP's combat), even if the rest of the game is more of a riff on VP. But I've honestly found this game's characters to be likeable and while they may not all be super developed, they visually and stylistically certainly have a lot more flavor than 99% of video games out there. As someone mentioned, it's a different design philosophy that focuses on characters as actual styles of play, versus characters with lots of different ways to change numbers. I'm really happy they chose this route because it allows you to figure out how you want to style your play and once you get practice mode you can really start to mess around with that, which is awesome.
This game is worth $40, and it's because it does things differently. And yes, it's an RPG; just not a Dragon Quest / Final Fantasy-styled RPG.