What? Characters are awful, Red Stone, 3-4 conversations, which basically don't build on his character at all, just go here do that, then he's gone from the game and no one cares, the game just moves on. Only marginally different to all the other characters, there isn't a single character in the game that stays with you for very long, nor "talks" to you, is friendly with your character or shows any depth whatsoever.
You are right in the lack of a head honcho bad guy, the Authority are feared and badass, yet pose no threat at any stage in the game, and are quite happy to just stand around town doing nothing.
As for great guns and gameplay, thats all spoilt when 9/10 times you can kill people with 2 or 3 shots, but you can unload entire clips at "staggered" enemies who are doing an animation, be that staggering backwards, falling down, whatever, they are almost invunerable during these animations, which happen to almost every single enemy, which is beyond game breaking. Incredibly limited, linear levels with predictable appearances of enemys, who are stupid and the tactics between any group of bandits or the authority, don't change.
Its not horrific to play through, the guns themselves feel quite good, with decent ammo options and variable types of killing people is good, if enemies didn't magically become invunerable for brief periods of time it could even have been very good.