From what I've heard (based off of months of lurking on snapshot game's forums/watching some youtube reviews) is that at it's core, it's a good game.
improvements over predecessors:
manual aiming
absolutely incredible story. (i've read all the background stuff they released prior to launch, and based off of that I say it could easily be a best selling novel or two even without the game)
good graphics
generally good stuff:
best geoscape/basescape since the originals
cool faction interactions (in theory/early game)
bad stuff:
the Ai is moronic. they can't figure out how to use cover (in a system where good use of cover matters more than ever before)
their best strategy is overwhelming numbers rushing you head-on with massive amounts of armour, or just sniping you from across the map with explosive mortars beast things, or abusing the mind control mechanics.
even the human Ai is no smarter.
which starts to lead into the overall problem of wtrazor is even balance/difficulty curves.
it's all over the place. it gets to be a super hard game (even on the easiest difficulty), to the point where by mid game save scumming can become mandatory to win if you're unlucky.
unless you learn a couple cheese builds and tactics that don't make logical sense. then it's manageable. until you learn too many and the game becomes so easy it's trivial.
the last major thing is that the faction warfare doesn't really make sense/isn't satisfying. they all kill each other too quickly once things really get going, and you're basically forced into picking a side. being the neutral savior of humanity (which makes the most sense for phoenix point to be) isn't a thing.
after that, there's a couple bugs. there's a controversy around this thing called return fire. the tech tree/research generally could use a bit more time in the oven and a little more seasoning. the devs seems a little bit bogged down by all the feedback, don't know how to handle it all maybe.
but it's making progress. slowly but surely. they're keeping their promise of continuing support.
overall, it seems that JG was just too ambitious, and as a result the game had to be rushed to fit in everything they wanted/promised, and basic balance concerns took back seat.
by the time it comes out on gog and the other, lesser, game platform, it should be well worth it.
right now your experience will be too dependent on rng for me to strongly recommend it.
do remember though, I've never played the dang thing. I haven't even seen any play-throughs because I don't want to spoil the story.