I just did my first dungeon and am now working on the third trial, but so far I really enjoyed the MSQ very much.
For starters, it's really refreshing not to carry the weight of the world (or the entire universe) on my shoulders The trials the dawnservant put up make a lot of sense to me, as they mirror his own way to the throne.
I also think Wuk Lamat is a very relatable character. She grew up between brothers that clearly surpass her in most ways, and her answer to that was to play as strong as possible... and she's not even good at that. Now we're in the middle of a coming of age story, and it works fine for me.
I also did not find the story overly silly - compared to Endwalker, where we watched Estinien (a hardened soldier who's living on the street for years) buy a drink for a bazillion of gold... then 5 minutes later spend another bazillion on a hair band. Man I laughed so hard on that... not
I also think most parts of the graphical update were well done. The surroundings look more lively and vibrant, and they finally fixed the low res textures on NPC clothing (often in a cutscene when the camera zoomed in those looked like a screenshot from a 1980s game). I did not like the new faces at first, they somehow all look like porcellain masks now... but I'm slowly getting used to it.

The only thing that made me nope out instantly (in that I skip any related video, and ignore any quest text)...

are the job quests. You meet a bunch of villains that make Hildibrand look like Einstein, and then have to clean up the mess they leave. That was so pointless, silly, and completely out of tune that I did not even watch the first video to the end