How long did you play it for? Story and exploration is exactly what the game focuses on, although you're right about the itemization.
Hmm, around 10 hours or so.
I completed the first two planets for the most part (apart from a few areas that I couldn't explore) - and stopped once I got to the third one.
Exploration seemed to consist of finding shortcuts (which is fine) and visual customization equipment - which I find incredibly boring. There was a bit of story stuff - but not at all much, and not very interesting, either.
Also, I HATE jumping and platform puzzles. Not because they're hard - but because they're boring. I'm actually pretty good at them - I just hate them.
Not the fault of the game, I suppose - I just didn't expect that at all. I expected a "Souls" game with a story - and not a platform/jumpy puzzler.
It's for the same reason that I can't stand playing Uncharted. It's pretty much the same type of game - except Uncharted has more entertaining combat.
Same goes for Tomb Raider - but Tomb Raider had much better exploration and reward design.
It's very much a classic metroidvania though in terms of level design, and if you're not into that kind of game then it's probably not for you.
I love the Metroidvania level design approach if the levels are done well.
Here, I found the levels dull and the things to find through exploration highly unfulfilling.
It all comes down to how much you enjoy the progression and the things you can expect to find, I suppose.
I think I might have enjoyed it without the jumping and platforming shit.
That said, I don't think I would have enjoyed it MUCH - even in that case.
Again, the things you can find are boring - and the progression/powers are super underwhelming IMO.