Wish you had emphasized the importance of setting a little more.
PS:T does use the power of the written word to build its world, but the world it builds is important too. If it was just yet another 'totally not middle earth' setting with pagan-style gods in it, ala faerun, it would not have gone down in history as the masterpiece that many consider it.
Good writing isn't enough if all you do is write about the same boring things, the way that Dragon Age or Wasteland 2 are doing. The same premise yet again, yet again, yet again... often handled worse than older iterations. Fallout: Tactics (and just FO in general) did Wasteland 2's premise much better than Wasteland 2 did, almost 15 years ago. Did its combat much better too, incidentally. I would even say its writing, but now I'm going off script.
PS:T was set in a very interesting world. Where the immortal amnesiac is considered a mild curiosity by most, where alleys give birth, where the power of belief's ability to influence reality is taken so seriously (that it takes its ideas *seriously* is also very important) that you can debate people out of existence, where one of the party members is a person who didn't notice that he died and remains animated purely by his own sense of justice and duty, where the main character is cursed to attract tormented people. It's not even a hero's tale; it's more a melancholy tale of loss and failure than it is about reveling in the power of the nameless one. Even the ending is melancholy, and could easily be seen as just as big a 'fuck you' to the audience as ME3's ending... but it doesn't end up feeling that way, because it makes perfect sense for the game's narrative. The hero dies, in not even a death of self-sacrifice, and gamers still love it.
All of this is much more interesting than playing HeroMcAwesome#9001 in NotMiddleEarth#Xy4LKWP47, with the same boring elves, and the same boring dwarves, and the same boring orcs, and the same boring gods and spirits, and the same boring everything else.
And I think it's important to remember that. I hope Pillars of Eternity, or at least Tides of Numenera remember this. ToN looks promising, but I am worried that it's going to try too hard to be inoffensive to explore any very many interesting ideas. It's a lot safer to just do the same old, same old again, and I won't be tricked by the same old in a different coat of pain... hopefully I'm delightfully wrong.