I like it, but
(1) it was fuckbuggy on release
(2) it's exactly 3 times bigger than it should be and the desert/ice areas basically become MMOs
(3) the game in general suffers from this MMOification
However, as a kind of Gothic-lite, it's still fun as hell to take on entire cities and I guess it looks better and better once R2/3 came out
There is no MMO-fication. If you want that, go play Amalur. That is what an MMO as a SP feels like.
Gothic 3 had the right size for the game world, which is what I loved. I really enjoyed exploring it all, running around, never got bored of it (considering I've finished it like 4 times over the years).
When you make a third person RPG, there is always a risk of making the whole world feel artificial by making it small. Dragon Age: Inquisition is a good example. The levels at first look big but then you can see the end of the map, making it all feel artificially small. I wouldn't care if it was a top down game, but in a third person game? Fuck no.