I've had a play this afternoon and I can say there will be a lot of people who will not like it.
I think it will depend if you want a "game" from this or just interested in the racing. By that I mean that there career mode, no tutorials or anything like that. You can basically play Championship mode, Quick Race, Time Trial and Multiplayer. The Championship is the closest thing to a career but it is just a series of races, there's not many options either you can choose a Short Weekend (15 Mins Practice, one shot Qualifying and 50% race distance), Normal (30 Mins Practice, short Qualifying and 50% race distance) and Long (60 mins Practice, Full Qualifying and 100% race). There is nothing you can adjust in those options which is annoying especially as yet I have not found a way to speed up Practice which leads to another point of it being not very accessible... edit; just found the option to ffw time.
There is obviously wheel support but it needs tweaking to get to an acceptable level.
Graphically it's OK and seems to run fine, there seems to be some issues with the penalty system with a few strange calls.
I'll get a fair bit of use out of it online and I like single races etc but I think anyone who is looking for a progression system and not single races will be disappointed. Looking at the trophies a lot are based around the Quick race which gives an indication of what the game is about.
CM have said they are not going to add a career mode to this but may look to introduce again in F1 2016....