I guess here's my summary:
I think it's an absolutely valid remake of the original, better in some respects, worse in others but overall nothing that even I, as a die hard Silent Hill fan, would have any major issues with.
There are a lot of ways in which I think it improves on the original and modernizes it successfully. The environmental designs are beautifully detailed and look absolutely gorgeous, the camera and controls are a lot more intuitive from a modern perspective and the creature designs look just as unique and grotesque as they did originally. Oh and the sound design is incredibly immersive, it's a game you absolutely need to play with headphones! Artistically it is really a triumph and it does the original proud.
The combat is kind of a double edged sword in that it is unambiguous better than it was in the original but there's also more of it which I'm not really a fan of. I've said it before, in classic survival horror games, the crux of the combat was in the deciding when to engage in it and when you can avoid it. The remake clearly wants you to fight just about every single enemy you come across and especially in the late game there are quite a lot of them and they're really aggressive. And I'd have to lie if I said it didn't get a bit tiresome.
My biggest criticism is the pacing. I'm not sure if this would have stuck out to me if I hadn't played the original but it's hard not to notice if you have. The remake is about twice or thrice as long than the original SH2. If I had to give my best estimation, I'd say the original was about 6-8 hours, the remake clocks in at about 20 hours. So in other words, it adds a lot of content. Which isn't a bad thing, the issue is that it also sticks very closely to the original games plot, so while it adds gameplay content it doesn't add much in the way of additional plot, making most of it just feel like detours.
Some of it is perfectly fine. I didn't mind the little broken record detour on the way to the first dungeon, I liked the extended section between apartments and hospital, I thought most of the dungeons were fine but some sequences just stuck out negatively to me. If I had to rate the dungeons one by one I'd say the Apartments were pretty good, the Brookhaven Hospital was mostly fine but it did have some severe pacing issues. It's one of those things, survival horror games pretty much always have a lot of that typical adventure game design. You know "use the pool cue to reach the button to open the gate to get the tweezers to retrieve the playing cards to solve the puzzle to get the number combination to open the save to acquire the key to open the door to get to the next plot beat." and if it's done well, you don't notice it but when it isn't you do realize that you're just being given the runaround which I very much did in that section.
The otherworld town after was pretty cool but then you get to the historical society and straight up, that's when they really should have made some cuts. Now, don't get me wrong, I always felt that that section was a bit long and had a bit too much stuff going on to begin with but the remake really stretches it out too much. In the remake it's effectively two very large dungeons back to back, the prison and the labyrinth and that's where I felt myself getting a bit tired of it. I feel like at least one of those two sections really would have needed to be reduced by a lot. Probably the prison one, tbh. I felt like I was never gonna see the light again and, you know, maybe that's intentional, maybe it was meant to be a long, punishing, claustrophobic gauntlet that makes you wonder whether you'll ever be able to leave, but I found it annoying more than oppressive.
At that point I was a bit frustrated with the game but to their credit, they absolutely nailed the final dungeon, the hotel. They understood that the historical society part was the games climax in terms of challenge and horror and that for the hotel they'd have to slow down and focus on the story and the emotional aspect and they really succeeded there. It's longer than in the original but doesn't feel stretched out and, very uncharacteristically, they actually decided to somewhat reduce the otherworld section and turn it into more of a linear, cinematic sequence, which was absolutely the right call. Also and this is something I think they deserve all the credit in the world for it, they didn't actually repeat the original games mistake of using the Abstract Daddy boss as a regular enemy in that section. I always felt that really took away from its impact and its significance to the character arc of Angela.
So, what I'm saying is, ending on a strong note is definitely what elevated the game for me from "It's alright" to "It's quite good." If I were to get into the nitty gritty... voice acting was pretty good, the actors playing Angela, Laura and Eddie were killing it. Maria/Mary was kinda off, losing some of those kinda lynchian abrupt mood swings. James was interesting. The new actor mostly maintained the general feel of Guy Cihi's original performance, i.e. sad and confused, but on occasion there was this feeling of repressed anger to it that, I suppose, adds some nuance to his moral ambiguity.
They removed Pyramid Heads cleaver as a weapon, which I thought was kind of a shame. There's kind of a shoutout to it where you get to drag it around for a short section but you never get to swing it, which is kinda lame. No, it was hardly a viable weapon in the original either, don't get me wrong, I think I made one or two token attempts to actually use it during the final boss fight but... I don't know, it was fun it existed. Speaking of which, I also felt the final boss fight was trying a bit too hard. They fleshed out all of the bosses greatly, most of them for the better, but for the final one I feel like less would have been more, it didn't need three phases. It made it a bit too over the top for my taste.
And then there's the one thing that the remake does to the story, aside from adding two new endings I felt were fine: Leaning into the idea that the story might secretly be a cycle James is going through. Which is interesting. It's done subtly so it's easy to dismiss if you don't care for the possibility but between the collectibles spelling out "You've been here for two decades" and some other hints towards an element of recurrence it's an interesting detail to have. Again, narratively I can take it or leave it. I do prefer to think that the "leave" ending means James actually found redemption and gets to live out the rest of his life and that the "In Water" provides at least some sort of escape but still, I reckon it's an interesting idea to entertain.
I guess overall I'd say the remake is a perfect example for a sidegrade. A Let's Player I watch was very eager to call it the "definitive version" of the game and I can't quite join him there. I do think it loses some of the originals tight pacing and compact narrative by extending it so much. But it does have plenty of genuine improvements, mechanically and visually that I can't call it a downgrade either. It's an interesting alternate version of a classic that I'm happy exists and I got to play. I've said it before, if you can at all get your hands on the original I would recommend playing it before the remake, I don't think it quite replaces it. But honestly, even if you don't it's still a beautiful way to experience this classic story.