I think the Art Direction is quite strong. It's been said already, it could just use more kinds of equipment, which is a standard problem for any MMO early on, especially before the first expansion.
The graphics are, for the most part, quite good, especially the mocap animations and character models. The cutscenes in particular are top notch, and are better than I've seen even in many recent FMV scenes.
Other than that, it's a story of nice ideas but very poor execution. The engine is still poorly optimized. I have a good bit above the recommended specs for this game now that I built a new computer, but my FPS still dips below 10 in Ul'dah because of the crowds there--imagine if the game had a big population. The water is also quite bad looking compared to the rest of the graphics, it's kind of sad that WoW's water on max settings looks a ton better because it actually reacts to being walked through and accurately reflects the world. I like the idea of the freedom to essentially make my own class, but then I'm kind of forced to level jobs I hate just to function (this was also a problem in FFXI). I hate playing mages, but it's practically required to level at least conjurer until you get healing and buff spells so you can use them on any other class, especially when soloing. The leve system was also a nice idea, and I think it can be salvaged, but it needs changes. The market wards were completely unusable for 3 months after launch, and they're still the worst marketplace I've used in an MMO since Asheron's Call. I could go on and on, and many others have, but I still think there's a diamond in the rough here that can be awesome given time.
