The good: The flight combat is very, very well designed and fun. The game looks absolutely stunning, and sound effects are incredibly well done. The soundtrack is undeniably a high point, with some of the most amazing music I've heard from an indie title, and arguably some of the best I've heard period.
The biggest thing I want to touch on is the VR support: This game is, bar none, the best VR title I have played to date. The cockpit VR experience is worth the price tag alone. I am absolutely, 100% convinced after playing that the omission of VR in Ace Combat 7 was an extreme misstep. I will be getting many more hours in VR in the coming months, and probably longer. Amazing experience.
The bad: There are definitely some bugs. Nothing game breaking, but there is a small amount of jank left over from the development. The story is serviceable but nothing ground breaking, and there are small moments where the voice acting is very cheesy.
In conclusion, you could have told me this game was made by a mid sized development studio and I'd believe you. It doesn't revolutionize the genre (outside of some very welcome QOL features), but it scratches the itch for arcade flight very, very well. If you like Ace Combat in any form, you will enjoy this game. Especially if you were disappointed with the lack of VR inclusion in Ace Combat.