The core is there, but it is grinding for the sake of grinding to have a 1 in 50 billion chance of getting the best equipment. Badly in need of a rebalance.
Bl3 vs. Wonderlands;
1. Chaos levels have replaced mayhem levels, except there are 50 Chaos levels. You can only increase Chaos levels one or two levels at a time. If you're are looting each run will take you about an hour. In these runs there are opportunities to unlock boss fights at the end of the run. I would recommend to avoid this until you're above level 40. Basically you're grinding for the sake of grinding in a highly repetitive "instance". Also you can have a minuscule chance of getting the highest level equipment.
2. 'Vestments' have replaced class mods. Where loot drops for class mods were often dedicated to your class in borderlands 3, you might have a one in 100 chance of getting the equivalent of a class mod that actually works for you. That's not considering the attributes that you may want. That's more like one in 5,000.
3. SDU costs are obscene. At Chaos level 40 the highest value item I've seen that you can sell for is $50,000. The 16th Bank sdu, out of 23, costs roughly $11 million. The system is so misbalanced it's disgusting.
I could butcher this game more, but I don't want to. I wanted to love this game. The bones to this game are actually very good. The gameplay itself is fun. However they absolutely killed this game trying to extend it's playability with tedious grinding. Until they rebalance this game I'd recommend to take a pass on this. If you do decide to buy this game take my advice; bygod roll equipment off of eBay. Stay away from running the chaos trial. Do not try to farm for equipment. Unless you absolutely love to grind this game will drive you away before you maximize the enjoyment you can take away from it