To me, it feels soulless because its first iteration came out seven years ago, and the new version didn't try to deviate from it much. In fact, most of the changes feel like downgrades, with FATE timers and (especially) Forked Tower being widely disliked by players. Of course, this was all expected, in a game where every dungeon has 2 add packs leading into 2-minute bosses with fixed rotations.
Even as a sub retention tool, it seems doomed to fail. Grinding for gear is something players have been requesting for years, but the armor upgrades are pointless outside of Occult Crescent. They are useful for Forked Tower, which most players are going to avoid. The same goes for phantom jobs. And it seems the relic grind will consist of steps that can be completed within a week (a day or two if rushed). After that, it's just more tomestone farming.
Meanwhile, the ever-present sub retention: lockouts tied to high-end content artificially extending it, housing demolition systems, and seasonal FOMO events with rewards that have been getting worse with time and will cost real money in the near future.
