Hmm... it's nowhere near as bad as the first game with its directionless, infinite scaling. It's a massive leap forward from that.
Even so, it's still about twice as long as it really has the content for, IMO. Playing on the default difficulties, the overhead portion became a tedious joke midway through, and its aggressive saving would be too nasty in a game this long if it were crueler. All the mage classes are pretty close to higher-damage reskins of eachother, the perks for leveling don't actually add any interesting abilities, the enemies get to be pretty repetitive, the whole equipment system is more complexity than it's worth, and it bogs down midway into the game. Combat doesn't really change much over the whole of the game, beyond occasionally forcing you to switch out classes and it generally getting easier. The emphasis it has on purely numeric scaling of capabilities for both you and enemies really erodes any feeling of progression. It really needs tighter design.
Still, it's a fairly decent game. I do like a lot of the things it was trying out. The overworld - while flawed - is still a pretty good system, and it's got enough depth to it to provide challenge. The combat is okay.
But, if his previous games are any indication, the developer will keep improving it for a while.