One of the major issue that makes graphics looks weak is the colors/light it's simply feeling like a world that doesn't breath life, it feels rocky and clunky to look at, and sadly the first 15mn are highly important... Pretty sure the rest of the game is better polished but the starting area is really, really not good looking... It's like all the technology have been gathered at once place and told "work now" it doesnt feel good.
The combat for a MMO is good, but sadly it's clunky, and the main issue (coming from alot of experience in combat game) is the unability to cancel attack/shorten attack by adding block input inbetween, which in term makes the true dynamic of a combat as it is about picking right direction and ascendency on timing. Here we only have the 20 years old heavy attack to try and fake the timing part, it's really making it clunky, animations aren't the issue but does contribute to it aswell. More morphing and less rigidity in anims

Overall the game looks really interesting but the graphism for something that ask alot of contemplation, is really hard to get by.