1. Uninteresting combat. Actions and animations are boring, early monsters are boring, spamming is boring. Early targetting was a pain.
2. Crap crafting. Too much interdependency on crafting makes it hard to level just one or two crafting classes. Crafting minigame was super annoying. No recipe book sucked.
3. No jump/swim/chocobos/mounts/etc. Running everywhere blows, and bumping into invisible walls and getting stuck on tiny ridges that barely reach my knees breaks immersion.
4. No interesting lore that jumps out at you like in FFXI. What little there is, is definitely not as charming as FFXI's.
5. Tanaka.

I know most of those were fixed, but the game doesn't have enough stuff for me to want to come back to it yet. I'm keeping a close eye on it though.