TL;DR — good VN overall but not realized to its full potential, hoping to see more steps in the direction Paranomasight took in other VNs.

[OCCASIONAL SPOILERS]
So i went into this VN without pretty much any knowledge other than that it's an occult mystery and, the real shocker, you're able to control the camera and there are even panoramic scenes every so often.

I'll start with the story, then, and immediately disclose my bias — i'm really not a fan of occult themes and, for reasons unknown, just can't vibe with it. That being said, i did finish the story and read all the files without really forcing myself to which is usually the case, so that already accounts for something. However, it left a somewhat disappointing aftertaste. Actually no, I started suspecting something on the 5th hour or so of gameplay. The game starts pretty damn strong - decent setup, good and tense atmosphere, you're introduced to being able to CURSE others and avoiding being cursed to death yourself is pretty interesting. I still remember the first encounter with the Corpo Guy (I've got awful memory for names) that is EXTREMELY obviously a trick but the neat thing is that the scene integrates the camera controls into the gameplay which is simply great design.
Then the prologue ends. You're given the Story Chart as yet another instrument to influence the story. After 2-3 more hours you'll realize that you've barely encountered any of the aforementioned gameplay elements or cool designs. After 3-5 more you'll realize you're playing a semi-kinetic novel.

Now, don't get me wrong. I'm not saying "no choices = bad". But the game kinda heavily hinted at a substantial degree of player's/reader's agency and then what you mostly get afterwards is making characters from different routes meet at a certain spot or convey information to them from other routes. After the Shogo's first route where you run around cursing everyone to death, you get the chance to use other characters' curses like 5 times maybe? And only one of these usages actually leads to another branch, although "branch" is a big word for what the VN actually offers. By the end of the game I've noticed that if not for the Shogo's route, the entire chart would be just straight lines with VERY occasional bumps that lead to this or that ending that takes about 5-10 minutes to read.
Again, I want to stress that there are cool moment in the VN but, well, not enough. No, really, the aforementioned Corpo Guy scene is the only time I can recall when the camera movement itself may lead to different outcomes (even it's just a game over state). Otherwise, it's mostly used for some spooks and a few jumpscares.
There are many other examples like this but there's no point going through all of them, I hope I've made my point clear —
it's a house with very solid foundation and walls abandoned half-way through.

An honorary mention to the characters and the tone.
I don't think I've found any of them annoying and even rooted for some (Mio is cool) but they also felt a bit one-dimensional which probably shouldn't be too surprising considering just how many active characters there are. There's no particular focus on one or two characters and instead the novel tries to spread it out evenly among about a dozen and then another dozen more somewhat secondary obviously to the detriment of every single one's depth. The characters rely more on plot twists of something being revealed about their past rather than any development as the game progresses.
The tone in particular is always a concern to me since not only it's a Japanese VN, but rather a Japanese mystery VN. I can't quite remember a single one of those that I've read that wouldn't make me crawl up the walls at some point, they certainly do mash the "Use Curse" button on me plenty. But not this one! Which is also probably why the whole thing felt like a breath of fresh air. Yet it doesn't exactly feel right, either. It almost feels rather... fickle? Like it doesn't know where exactly it wants to land, so at first you think it's gonna be a proper occult mystery horror-thriller killing game and it holds the plank for some hours but then it shifts the gears more towards interpersonal drama with detective elements. It doesn't really seem like some sort of subversion of expectations because it's not like the plot goes "Aha! You thought it was going to be about the killing game but now it's actually about a complete psychopath with a mildly tragic background wanting revenge on a detective at the cost of hundreds if not thousands of people" but rather "Ok so right now it's about the killing game but actually no, it's about the psychopath guy but now that he's been dealt with it's about some bout between two hundreds of years old wizards". Perhaps, the charm of the likes of Uchikoshi is the commitment to the their premise to the point of insanity and going full on pedal to the metal which Paranormasight definitely lacks somewhat.

Given all this semi-coherent rambling one (and only one) may ask, "You sure that's a positive review?"
Absolutely. Paranormasight is definitely worth playing at the very least for the style, expressive sprite animations, good soundtrack and pretty cool cinematography which I haven't really seen as a pro for any other VN. I believe it's a step in the right direction but in the end the novel just didn't realize its full potential in my opinion and that's my main gripe with it. It's good but it could be much, much better. My main hope is that it'll give inspiration to other devs in the genre or maybe even Takanari Ishiyama, the writer of this novel, himself will be greenlit with another project and improve on the points I've mentioned.
It's honestly a surprise in the first place to see it come from under Square Enix and I hope they'll take on more non-AAA title ideas like this.

This is a tough one.

On one hand, i should set aside the english translation and try to judge the game on its own but on the other, the translation certainly has issues and i know approximately 5 words in mandarin. I've heard many people saying that it's got atrocious translation quality, almost as if done by a machine but i don't agree. Machine translation looks different and makes different kinds of mistakes.

Despite that, i never really felt any confusion about the sentences. But i definitely feel confused about the overall text and story and, apparently, i am not alone. I've seen some casual reviews by the people who liked the novel and it's pretty telling that the common notion tends to be "it's a very nice yuri novel, even if i don't really understand what's going on... and maybe for the better! ^_^".
It starts weird, it unravels weirdly and it ends even weirder. The ending heavily suggests it's just a part of a bigger series but as far as i understand the next game by the dev will not exactly be set in the same world, so it's not exactly a given that whatever happened here will be fully explained further on. And without that all you're left with is some pretty basic yuri stuff (i've never read a single yuri fanfic before but when i asked someone who has whether i'm right about this being "the most typical yuri there is" i was validated) with a pinch of cosmic horror out of nowhere.

Desperately need me some Geburah

I'm yet to finish the game due to me sucking big fat volumes at deck building games but otherwise i'm absolutely loving everything else. The lore, the atmosphere, the characters, the voice acting, the soundtrack - all of it is just chef's kiss.

One day i'll pain it through and perhaps give it 5 stars for the experience.