The combat is very unsatisfying, nothing feels substantial at all. The graphics are also really bad, as is the animation (I would hope this is just due to being a beta). D3 was pretty cartoony in it's graphic presentation, but it looked pretty good even if the color palette etc was "wrong" for Diablo. D4 seems to be trying to go realistic but it's not well done. My settings are maxed out (R9 5900x, RTX 3080) and the graphics/animation look like a mix of PoE from early beta circa 2013/2014 and Age of Conan. I haven't delved into the game enough to see what the monetization system is, but there are a lot of various currencies/materials in game
I know the Blizzard of today isn't the Blizzard we all have fond memories of, but even the empty husk of the current Blizzard can't realistically release this game anytime soon. I'm not sure what the firm release date you mention is (not finding it anywhere) but unless it's late 2023 there's just no way. Even late 2023 I don't think is enough time to actually make it a good game but they could probably release something by then