I've gotten to the part where you have to choose to side with Kuro or not. I've done some grinding to level up. Overall, so far, my thoughts are kind of mixed:
Disclosure: I am a Souls weirdo. I've never played Demons or Bloodborne. Just the trilogy. My least favorite of the trilogy is 1 and I could write an autistic essay as to why. My favorite is actually a tie between 2 and 3. 2 for it's open world and 3 for it's combat. I don't like PvP. And as I mentioned earlier I am a strength nerd that never parries. Just to compare dicks, I've played up to NG+3 on all 3 games. I think I got up to NG+5 for 1 and 2 and NG+2 for 3 (it would've been NG+3 but a hard drive crash fucked that up).
The tutorial is annoying. The constant text boxes were unwelcomed and reminded me of Mega Man X5. The constant interruptions of the story I didn't like. Once again, I'm weird, I don't care about the story in games. Just let me play. Let me skip through the bullshit. That's another reason why I like Souls because there's very little of it but if you care enough you can find it in the game's world.
Most of the Shinobi arts are completely worthless. The Ax you use a handful of times. Same with the Shurikan. Same with the Flame Vent. The Spear looks cool and I've heard it's good but... Almost every single enemy, especially bosses, just blocks or tanks through your bullshit. The Firecracker is maybe the only great Shinobi art because it can stun nearly every single boss and is great for mobs.
Compare that to Souls where you're given a lot of options as to how to play: you can use magic, you can go shield-less, you can do the traditional sword + shield, or find some weird build.
The whole posture-breaking gets kind of old after a while. 99% of the enemies including bosses have to block EVERYTHING? Ommitting the Ogres you can only hit someone if you do a perfect deflect (sometimes) or if they whiff an attack. That's it. Otherwise you break posture, death blow them (no homo) and rinse and repeat.
The whole customization element of Souls is gone too.
I have 8 Gourds and I'm one Prayer Bead away from another upgrade.
Edit: I made the wrong choice with Kuro and the game doesn't let you reneg on your choice. Great game design...
Also, the targeting system sucks. It was a thing since at least Dark Souls 1 (and probably Demons too) that a giant enemy or an enemy jumps over you will occasionally get un-targeted. But this happens all the time in Sekiro and enemies randomly get un-targeted. Especially when you're up against a wall.
I've also held down block when I had plenty of Posture and my character just doesn't block the attack and it wasn't a Deathblow. This happened in particular with the 2nd phase of Guardian Ape and Corrupted Monk.
One last thing: what fucking moron at FROM thought it was a good idea that when you resurrect that you un-target enemies? If there's a mob of enemies then it makes sense that you un-target but against a single boss? Having to target them sometimes leads to them getting a free hit because sometimes when you block/deflect and you're not targeting the enemy they get a free hit on you.
2nd edit: I would overall rank it below the Souls trilogy. I don't hate 1 but I just find aspects of it very annoying. I have an ISO of Demons and I think the PS3 emulator can run it at glorious 30 FPS. I don't know if you can hack it to run at 60 or not.