Arcania is basically what I would call an action/adventure game with some RPG elements. Or basically a RPG-lite while other Gothic were more hardcore RPG games. But taken for what it is, it's actually a good game IMO and very enjoyable.
As a Gothic game it's rather underwhelming if you're hoping for something akin to Gothic I/II or Gothic 3, but as a separate game: it's good as far as I'm concerned. I think they really should just have kept the original title which was "A Gothic Tale" and probably would have been more honest about the content - basically a game taking place in the Gothic universe, but not a Gothic per se. And I thought it made a good use of the Gothic setting as well.
Hell this is probably gonna earn me some flaming and eyerolling, but I actually got a lot more enjoyment out of Arcania than I did from Gothic 3. To be fair Gothic 3 was such a dissapointment to me, there is no way in hell Arcania could have been more underwhelming that its predecessor. But my view would be that while Gothic 3 tried (and IMO rather failed) this huge freeform open world approach, Arcania did succeed in what it was aiming to do - that is basically a fun and accessible action RPG game with a nice story to follow (which is more that I can say about Gothic 3's plot... or lack thereof). While I doubt the game would have won any award either way, I am utterly convinced it would have been met with generally positive reviews and reactions if it had been presented as a different IP and world.
My main beef with Arcania trully really was how they cut most of the interaction and world simulation aspect - which is puzzling since it appears to have been implement to some degree (you can use everything but it does nothing and there are some NPCs who do have some form of schedules: but not all)... but I would suspect this was cut at the last minutes. I've always wondered if this could somehow be modded in or something, but considered how hated this game is by the Gothic community I don't expect anything of the kind really.
And for the record I'm dissapointed that Fall of Setarrif will in all likelyhood never come out.
-Sergorn