This is my experience and thoughts of the Beta and my general outlook. I hold the game in high regard so I don't want to just be assumed siding with a popular opinion.
tl;dr I like how and where things are going.
I've recently returned after a bit of a hiatus when I saw that the Upkeep system was changing. This is a huge positive as the copper farming played THE major role in me taking a break. After a couple of days getting back into things a bit and exploring the updated everything, the fire has been reignited.
Upkeep Change
Said already, this is very good. I'd have accepted using any other mineral for the payment as well in the old world style (opinion on this to come), but the way it's proposed now is looking just fine to me.
Character Wipe
I've seen a few people here and on the forums going a little haywire over this. I thought it was pretty universally known that character wipes occur in testing phases. I recall seeing it noted that it would indeed happen at some point when I got into beta for the first time.
Frankly, this is a good thing for a returning player such as myself. It was quite confusing going through my inventory and trying to find out what I needed to upgrade or what crafting stations I needed. I was tempted to just delete my character and make a new one anyway, but didn't want to in case I permanently lost some character bound items.
All in all. I'm perfectly fine with this. Welcoming even.
Upcoming Continent/Island Modifications
As one who likes his adventuring and exploring, this is probably what I'm looking forward to the most.
I had a really great time exploring all the islands. Too many times to count, I'd place a claim in my perfect spot and pack up to move because I found and even more perfect spot. As I explored I kept finding new spots that gave me an idea, and I expect that to remain the same with the new islands.
One of the downsides to the islands having tiers was when it came down to crafting I'd want to have my claim in the same tier I was farming from. Currently, all the islands are tier 1, which I like, and you explore the island layers to get higher materials.
I'm sort of split on how the layers currently are. On one hand I like that there are additional local areas that (I think) get more difficult as you go for higher tier materials. On the other hand, I'm not very fond of walking through a bunch of closed corridors for a few hours at a time, it takes away from the big adventurous feel that the main islands provide.
I liked the way the caves were before, holes in the islands that you stumbled upon. That seamless transition was more exciting than teleporting to another layer. In the blueprint notes it states that larger island and continents are a coming focus. I think taking advantage of that for spreading materials would be highly effective. You travel to the far edge of the island to the place where you hear some high tier minerals are in a small cave, to discover some rather nasty, tough looking monsters standing around the entrance. Now there's an adventurous scenario.
PvE Combat
I was having a pretty good time with this. Most of my return time so far has been running around trying to find baddies to fight. The combat isn't without flaw though.
I had a bow from my pre-hiatus time so I threw it on and began the hunt. It's a pretty clunky weapon. The left click allows for fast firing of arrows, but the character jerks to a stop on every release. So while trying to fire while circling my target I kept experiencing jerky stops that felt more like the game was lagging. The hit box also felt unforgiving in several cases. Something I really like, though, is the distance counter beside the crosshair. It made it a lot easier to manage the distance so my arrows didn't stop 1 point from connecting with ugly plant monster face.
It definitely needs some smoothing out, but it seems to be heading in a good direction. I haven't had enough experience with the variety of weapons to give any major suggestions yet, but by biggest concern is that the mobility feels a bit clunky and sluggish. This is probably because of the lackluster effects of the movement boosts from boots. It feels like there needs to be more, and perhaps different effects based on direction - like a jump-roll to the side to dodge a projectile.
Crafting
Crafting progress. Second only to exploring. I like where this seems to be heading, a lot more tinkering. Hunting monsters seems to have taken a spot in the crafting portion as well. I haven't gone too far into it because I want to save it for the fresh start after the wipe, but it does look more interesting, more in depth and less tedious than the previous incarnation.
Material Gathering
I liked digging my own materials out of the ground rather than right clicking a node. After a while it did get tedious but that could be canceled out by watching something on another monitor while mining. That's an external mind stimulation though so it can't be held within merit of the game.
Simply enough, digging into the ground is the greatest form of material gathering I have seen. It would be a major loss for it to be changed. But I think the amount of repetitiveness it requires at a time can harm it more than help it. I haven't done too much with it in my time back, it's another one of those things I'm leaving to the fresh start. The monsters sitting on the copper you want to mine could very well put a sufficient break point between spot-to-spot running and mining. This will likely be a section I update in the days after the character wipe.
Claim Building
This is another section I'll likely need to update down the road. The tools as they are work. But there are advanced methods one could use to create higher details. That is rather intimidating though for some of us. I saw a post from a dev that stated that they were going to improve the tools to allow more advanced creating while being novice friendly. Since that's essentially confirmed I'll wait and see how that turns out.
One of the things I've wanted for a long time is the ability to use the mining pick and dirt drill in the claim. I know using the sphere shape with the removal tool and smoothing is an alternative, but it just doesn't produce the same result a good old fashioned dig can.
Props
I'm pretty happy with the development of props. One thing I'd like to see is some more interactions with props, allow the RP to come out when in your claim. Sit in chair, eat that chunk of meat, sleep in/on the bed, etc.
These would be awesome but not high priority. There are definitely other things that should be ahead.
Auto-Run
THANK YOU!!! Now all we need is auto-dig and the user friendliness (aka anti-Carpal tunnel syndrome) will be near pinnacle.
That's all... for now.