I think
BoJack, not unreasonably, expected the game to follow through the precedent of P4, where the dungeons represent the psyches of good people with repressed issues, and navigating the dungeons is a metaphor for unraveling these issues and bringing them to light. P5's dungeons of basically irredeemably evil people that you artificially manipulate into owning themselves can be very jarring if you were expecting something like that. I appreciate that they didn't want to repeat the same structure for P5, but the problem is that they didn't replace it with something equally meaningful, and this ends up making not just the dungeons but the whole game considerably shallower.
These aren't the only issues with P5's plot compared with P4, not by a long shot. The fact that every female social link, for example, is an eligible bachelorette, also makes that side of the plot much more homogeneous and less diverse. So, yes, I would say you would do best to drop it now. I was actually enjoying by that point, but I ended up quitting a few dungeons later out of sheer exhaustion at their increasingly insane length. I don't feel like I would have missed anything particularly inspired by dropping the game earlier.