I randomly got invited to a short alpha test week earlier in the year and had a blast. The core gameplay seems like the right evolution of old school UO - guild towns with more explicit functionality, wars with consequence, better diplomacy/politics.
As is always the way with any MMO that embraces interesting social mechanics, it's the superficial elements of the game that need serious work. Being so cross-platform is cool in theory, but as I imagine 80% of players will be on the PC, it could really use its own dedicated interface with more functionality and less of a mobile gaming vibe. The graphics are passable - not something I would worry too much about considering how rare the core mechanics are in games these days, but it could certainly do with a bit of character, as it all looks a bit generic at the moment.
Really liked the skill system, clearly inspired by path of exile where skill gems slotted into gear define what your character is capable of, and far more appropriate than a traditional level system that inevitably locks new players out of interesting content. If anything, Path of Exile's skill gems could be compared to fitting a ship in Eve, and so anything that follows that same rough design makes a lot of sense for a sandbox game. After all, being able to have a new guy join the game, find a guild and immediately be kitted out in cheap but functional gear that allows them to contribute in pvp (like any tackler can in eve) is exactly what these games need. But again, the flow of combat and the skills themselves felt a bit off, and need a lot of work to make pvp itself a satisfying experience.