It's definately not arcadey, although it's not quite a 'full sim' like GTR Evo, rFactor, iRacing, etc...
Atm the steering has a slight input lag on it, which can make counter-steering a challange at times, although you do get used to it.
^^
The devs have said today that they are aware of this & are working to fix it, so that issue could be a thing of the past.
Some cars feel much better to drive than others, but that's a personal preference thing.
Pretty much all cars
need to have their setup tweaked to get rid of the mushy feeling to their handling.
As someone suggested earlier, even just setting the suspension / dampers to their middle values make a big difference, so you don't need to get too technical with the setups to notice the change it makes.
Lastly, some of the tracks have been ' tweaked ' to make racing easier on them. Bathurst is way too wide for an example.
Taking all that into account, it's still a
lot of fun to drive. If you find a car you enjoy the handling of, then Autolog means you'll never be done trying to beat someone's laptime on your favourite track
edit - just be aware that once you get used to the immersion of the cockpit view with realtime self-shadowing, going back to GMotor based titles might be hard due to feeling quite sterile in comparison.