A classic sci-fi action RPG. If I had to compare it to other games, I'd say it's a bit like Diablo or Monster Hunter. It's got loot with randomized stats/abilities like Diablo, but it has an over-the-shoulder perspective.
Very grindy if you're into that sort of thing. I've been playing since the original Dreamcast release, and this is a strict upgrade on that IMO. It has two expansions along with bug fixes and QoL tweaks, especially if you play on modern private servers (I play on Ephinea, but there are others that have their own tweaks and custom items/quests)