I've bounced off it hard.
There's nothing new here - its the Suramar campaign, but you have to do it on four characters!
They've taken the dark secret of WoW - in a game with constant gear / level resets, only toys, mounts, etc. have any long term value - and built the campaign progression around it, as you run out of campaign long before you unlock the silly crap.
Speaking of mounts and silly crap, they've then limited some of the world drops to specific covenants. "Let's artificially cut the defacto drop rate in fourth, as you don't have a chance with every character now!"
Speaking of covenants, they're pretty much a mess. The rewards distributed are wildly different so far, due to differing anima rewards and the completely broken tables for some covenants.
Then, the covenant specific things are wildly divergent in time wasted. The Wild Hunt vs Ember Court is just night and day.
The Maw and Torghast are just duds from a design standpoint - the Maw mostly increases Torghast power, but you probably finish up with Torghast before you get to those upgrades if you have decent gear.
However, if you don't have decent gear, you could easily burn 30-45 minutes on a run until you realize you've bitten off more than you can chew (usually on the last boss) and walk away with nothing.
Also the idea of a Rogue-like where you start with extremely variable power levels (i.e. your gear) then don't increase your power as a result of the run, is, um, broken?
Then the biggest issue, the adjusted drop rates significantly increase the time spent to reward given across the board. They aren't giving us a chance to explore the pvp game, they're just making us burn all the time doing that too to get the progression per week from past expansions.
TL; DR - Shadowlands just doesn't respect your time, even just in comparison with recent WoW expansions. We can all quickly come up with the theory - due to Covid, their point releases will be even more glacial this time around, so drag out how long it takes the suckers to finish up. What it really does is point out the optimal playstyle is even more optimal this time around- sub for a month, finish the campaign, then unsub until 8.2 is about to launch.