It captures the tone, feel and even some of the more complicated undertones of Lovecraft's work pretty well, introducing a main mystery that remains engaging until its multiple (completely doomed and depressing) endings.
Unfortunately, the way you go about solving cases never changes: talk to someone, click on some evidence, maybe jerkily fight a monster or two, then fast travel to a specific public building to solve a simple association puzzle, fast travel again to repeat the cycle.
It gets repetitive almost instantly, and the bland, copy-pasted open world and throwaway leveling and crafting systems give it a by the numbers feel that suck all the tension out of it. A shame, but it's a formula that could be improved and iterated upon.
(Whelp, they announced a sequel)