I'm currently stuck due to a game bug and waiting for the next patch so I'll take some time to write a quick review.
The game is slowly growing on me. There are lots of things to like, but also lots of things to dislike. The early game ( ~first 5 hours ) is pretty average, some people would probably qualify it as bad. The open world is made of a bunch of floating islands connected by bridges ( you can craft them by chopping down trees ) and random teleporters. Each island is a little maze and they all look similar. This gives a very disjointed and incoherent feeling to the game world. Visually it's a mixed bag, with some assets looking almost untextured or cartoony, while others are more realistic. Lighting and dynamic day/night cycles and weather are pretty good.
Crafting is done by finding "ideas" for items in the scenery via an in-game camera. It is a refreshing concept in the genre, however instead of adding that system on top of classic hand-crafted loot and treasures, the crafting system completely replaces it. That's right; the old formula "explore-monster-treasure" replaces the treasure part with crafting "ideas". That's pretty unexciting and underwhelming if you ask me. Imagine spending 30 minutes in a deep dungeon, and your reward is just a crafting recipe which you can't even immediately use until you back-track to the camp. Meh.
Speaking of another refreshing concept to the genre: base building. The game allows you to set up a camp in a specific area ( I suspect later on in the game there will be more areas like that ) and to build various improvements once you progress. Walls, ceiling, forge, even a cellar dungeon, alchemist etc.. It is pretty cool and essentially acts as the center hub for the open world.
Even though I did not particularly like the open world due to its disjointed nature, I really enjoy the dungeons. So far they've been short and to the point with a nice mix of exploration, combat and puzzles. There can be various mechanisms and traps, fireball launchers, pitholes, and the environment can be used against monsters during combat. The dungeons look a lot better than the exterior world due to the nice lighting and shadowing effects and physical based lighting. I haven't encountered complex, multi-level dungeons yet; they're all linear and sometimes simplistic ( a key opening a locked door.. two tiles away.. ? what was the point ? ) but they're also quite varied and combat in a restricrited layout is more interesting than in the open world.
Speaking of combat, it is pretty average. The death mechanics are a bit special ( you lose shards, which basically act as experience points, when you die ) and there's no quick reload; the monsters hit hard and in the first hours of the game, there's no way to heal your characters that I could find ( besides resting at the camp ) which forces a lot of back-tracking in the middle of an area/dungeon to replenish your characters. As a result, direct fight is a bad idea, so I've been forced to abuse two-steps dancing. If you didn't like it in Grimrock, you'll absolutely hate it here. In addition, the combats are "unfair" in the sense that monsters can hit you diagonally but yourself you can't do that to them. I believe the developer did that to mitigate 2-steps dancing, but the result is a failure. I much prefer the Vaporum approach with monsters having ranged attacks and restricting movements dynamically ( monsters area damage over 3x3, acid or lightning range attacks on the hit tile etc.. ). Here in Arakion, the trash mobs are simply a waste of time. They offer no particular challenge ( beside one or two "boss" fights over smaller islands where your movements are more restricted, or in dungeons due to the level layout ). I have hopes that the combat improves later on in the game though.
Finally, a quick mention of the RPG systems; I mentionned the character creation earlier, which is pretty complete. Levelling up is done by getting "shards" when killing monsters or collecting them while exploring the game. Once you have enough, you can spend a point in the skills tree. Unfortunately the skills tree is pretty generic; it appears complex at first with a tree-like structure but it really is an endless list of "+2 health", "+5% health", "+1 weight stones" and even then a lot of them are duplicates.
I haven't progressed enough on the story to give much feedback about it. The entire first chapter feels like a giant tutorial where you're gradually unlocking more abilities and sub-systems of the game. There are NPCs to talk to with a "lightweight" conversation system. Some NPCs allow you to buy items or potions. NPCs can temporarily "join" your party but they're represented as an icon and just give you a stat bonus. I've seen mentions of pets but I haven't unlocked any of these yet.
So, in summary, I'm enjoying a lot the dungeons and puzzles part of the game and I welcome the refreshing systems like crafting or base building. The main problem I have with the game right now is that the core experience does not seem solid. Usually a game would make its core a solid experience and build more systems around it. But here I'm finding combat, open-world exploration and loot to be disapointing. If I had to give an advice to the developer, it would be this:
1. Revamp combat to get ride of two-steps dancing, maybe by rebalancing the game. Slow trash mobs that you can't battle 1-on-1 directly are no fun. Play Vaporum, seriously. Make the mobs have more interesting/varied tactics to offer a decent challenge. The only combats I really enjoyed so far were the boss fight on that small floating island, where he had a 3x3 stomp attack ( but he had a lot of HP, so once you got the pattern, it was a chore to finish him off ) and some skeleton/mummy fights inside the dungeons, where movement was restricted but you could use the environment against them. The fact that you stay with an axe and a sword for the 5 first hours does not help to bring a variety of tactics. Maybe combat in later parts of the game, where you unlock gear and abilities is better, but I can safely say that after ~8 hours I haven't seen it..
2. Redesign the open-world to be more coherent and less "maze-like" - it makes the first hour of the game feel like it's just an elaborate puzzle game in 3D ( which is wrong, as your game actually has more depth and interesting elements than your typical blobber ). A forest island, a mountain-like island with rocks, etc.. make islands more thematic. Add a couple of early dungeons to show to the beginner the best your game has to offer, with a few cool puzzles. People are expecting a dungeon-crawl experience; give them a taste of that earlier. Add more secrets and optionnal areas, too. Everybody loves these.
3. Add back some fixed loot to the game; don't rely only on crafting only. You have an interesting crafting system, but its downside is that it makes the early part of the game ( when you don't have access to crafting yet ) a chore; and it removes excitement from exploring and completing dungeons. A good mix of crafing items and classic loot would be wonderful ! Nobody wants to find a recipe for an ice spear at the end of a dungeon. They want the instant +3 magical ice spear itself. Crafting should be the cherry on the cake, not the cake itself..