Ignoring all the Nocturne fanboyism and the cries of "Nocturne was the last good game Atlus made, it's been downhill ever since" I can say with full confidence that yes, the game is good. Just a really good dungeon crawler with very creative bosses and a fun battle system. There isn't as much potential for party customization as the later SMT titles, but I think that actually works in the game's favor because it feels like the bosses are designed around the available demons and their movesets.

The story of the game is 100% saved by the incredible atmosphere and crazy vibes of this game. All these things work to invest and draw the player into the world of the game. If there was no ominous and unique atmosphere in Nocturne it would probably be another Shin Megami Tensei V situation where the game gave the player no reason to get invested into the game world. The minimalist story in Nocturne is better than SMT V's story, but it's mostly just various characters telling you that they're going to remake the world. Although there are some cool scenes like Chiaki vs. the Manakins and Isamu vs. Hijiri. It's a very trippy experience.

The characters do represent their alignments well and have nice cutscenes that introduce their ideas, but I also don't think the game gives the player much of a reason to care about the main cast of characters. They're unlikable from the beginning of the game and then they become huge assholes. They do work as boss battles because you grow to dislike them. But they're not going to be as impactful as some of the alignment rep boss battles in SMT IV, because that game had characters that were actually likeable. I'm not saying Isamu and Chiaki are bad characters. They're not bad, they're just unlikable.

I am very glad that the alignments in this game are not just basic law/chaos. The reason system is so much better. It actually got me to think instead of just choosing the same alignment I chose last time. Also, your choices actually matter in this game as opposed to SMT V which just lets you pick an ending.

The music is pretty kickass. It's one of the few mainline SMT games with music by Meguro, which is quite the treat. The art direction by Kaneko is also insanely good and probably saves the entire game. Seriously, this game would have been nothing without Kaneko. But I also have to give equal props to Meguro for completely making the atmosphere work from an audio standpoint.

This game is a weird marriage of ideas that are very out-there, but it somehow all comes together into an unforgettable experience. This is my favorite mainline SMT game because it's the best experience out of the ones that I've played. But I have to mention again that Nocturne would be absolutely NOTHING without the incredible atmosphere. That story and those characters aren't doing much to carry the game. Oh, and of course, the gameplay is good too. But SMT gameplay is usually good.

So yes this game is good, but you guys need to get over it. The fanbase's obsession with Nocturne is what made SMT V as vapid and soulless as it is. Just be happy this game exists instead of complaining that every other game isn't like it.