well it may not be great, but you aren't exactly spoiled for choice when it comes it games similar to diablo. If you've done diablo and titan quest then thats about it. Everything else mentioned in this thread is more pure rpg than those.
ALL these games are repetitive and NONE of them have good stories (even the mighty diablo) so how you can call those negatives i don't know. The only thing its lacking is stability and a few more enemy types.
There are loads of other ARPG games, off the top of my head, Dungeon Siege 1 and 2, Sacred, Lionheart, Silverfall, the Baldurs Gate Dark Alliance games and Untold Legends on the consoles, Hellgate London, Marvel Ultimate Alliance, going back a bit, the Icewind Dale games, Nox. All dungeon crawling action slashers very similar to Diablo in gameplay.
And IMO Loki was pretty much the worst out of all those games (except maybe Untold Legends, which was cack). I'm talking relatively anyway, it might not have a plot comparable to Planescape Torment or The Witcher but Loki's plot is even worse than Diablo and Titan Quest (which in themselves were pretty wafer-thin).
Also, Who's idea was it for all the major questgiving NPCs to either have plummy british accents or camp effeminate accents, whether they are Norse, Egyptian, Greek or Amazonian. It sucks and is rubbish.