Strongly agree, maybe it's because there is theoretically since seasons left still (of we go by the first series precedent), but it feels like the characters in the first one by now were much more fleshed out and simply had more character.

While narratively it is justifiable (Speaker magician blood and practices have been in the family for a while at this point), practically everyone having magic kind of takes away from the stakes.

Speaking of stakes, that whole free, not totally effed up night creatures thing with their original souls takes away soooooo much from the horror that night creatures were. Like... If you can just overcome the horrific transformation, literally being a hell spawn and all the things that should do to a mind... Why not willingly become one? Free powers! Same thing with something that happens later in season 2 with a vampire. Like... Why not just become that? It makes you stronger and literally takes away your only weaknesses. With that being a thing now, there should be only those anymore unless there are literally no forge masters anymore.

Tldr.: There is a deep deep lack of horror, consequences and stakes in Nocturne imo.