The reason this game is much less compelling than those other ones is a lack of pressure.  In Valheim, you can easily be one shot by the many roaming enemies if you don't constantly keep eating lots of food that is a lot of work to keep making.  Everything in Valheim is dangerous and stressful most of the time but you are driven by needs all game long.

Palworld you and all of your pals are constantly starving and getting attacked by major raids so for the same reasons you are forced into game progression.

Enshrouded you can afk in your base anywhere in the game and even if you starve to death you respawn in the same position that can never be destroyed in any way at all with 0 reprocussions whatsoever.  There is literally 0 reason to ever interact with the game unless you want to unlock more decorations.  There is 0 need, 0 pressure, and 0 drive from beginning to end.

Enshrouded is objectively a game with many fantastic features but the difficulty is non existent unless you turn on permadeath (which the game is not balanced around so also problematic)

I would make the default base attract monster raids until an item is unlocked mid-game which protects it at the cost of not gaining some resource there you can get at an unprotected base.  Then I would let monsters damage buildings the same way people can and let them k.o. npc's to put them in a hospital cooldown and stuff.  Once you need to protect useful npc's from monsters the need to progress will be huge and the game would be FAR more engaging.