The game is fine as an action game in terms of gameplay, its just a DMC with dumped down gameplay. It didn't live up to the name of the top HnS games.
DMC 4 used Mt framework, which is dedicated for fighting games and precise inputs, animation..etc. NT is a limited game studio and they used UE3, which is not a dedicated game engine that NT made, rather a limited and commercial game engine.
I haven't looked at enough material to know how good the gameplay is, but from what I have seen, it looks pretty good. Wouldn't compare it to DMC, but it still looks pretty good. The main difference between MGR and DmC for me is that where DmC has this undeserved sense of superiority for its story telling, which was on the lower end of average; MGR seems to be way more about it just being a fun H&S, and if DmC had been marketed as that, it probably wouldn't have rubbed so many people the wrong way.
And yes. I'm saying Ninja Theory molested us.
Edit: Also the art style. MGR just looks really freakin' cool to me, but that's far more opinionated than the rest of my statement.