One of the best games in recent years. Larian shot through the roof with this one.
This shows that gamers don't need procedural generated "forever" games!

Best coop-multiplayer experience I had in years. The continious communication, split-second decision-making and execution of our silly plans were the highlights of my week.
Beautifully individually crafted stories, characters and gameplay. Lots of (hidden) amazing and gorgeous things to find, follow and uncover. GET SPEAK WITH ANIMALS!
Voice-acting and music was phenomanal.
Your actions impact the world around you in a fantastic way; you can create your own unique adventure with every decision you make starting from character creation. Replay value is super high.
Exactly what you would want from the genre. D&D mechanics are adapted in a well balanced fashion.
Continuous performance updates and balance patches based on feedback are more than welcome. The game even works decently well on the Steam Deck now.

Nitpicking:
Implying and foreshadowing of long-lasting or big consequences for the characters were sometimes a bit lacking or too ambiguous. (e.g. some "operations" you can get)
Character and camera movement in combat can be frustrating at times. Spam-clicking tiny movements instead of one click can mitigate that a bit.
Amount of content and mechanics combined with open world can be overwhelming for newish players.

You will get addicted easily. Great for veteran players and - I imagine - a great introduction to new players.
Fantastic mix of open-world and Dark Souls.

Positives:
Lots of things to find; always feels rewarding to explore and talk to everyone.
Open world is very well executed. Very little mandatory requirements to finish the game. There are many options how to continue. You never really feel lost or clueless.
Bosses (with a few exceptions) are very well designed and unique. Two fights especially are super badass.
Replayability is very high. Any build feels viable thanks to some new mechanics.
NPC Questlines are super interesting, sometimes funny, sometimes tragic. There are different endings tied to them that you can explore.
Co-op with friends works pretty good.
Lots of quality of life improvements.

Minor negatives:
A bit too many platforming sections. Jumping often feels janky on foot and mount.
Mini dungeons feel repetitive after a while.
Some fights were a bit too easy from my perspective (FromSoftware veteran).
Final boss is underwhelming.