I'm enjoying Shenmue 3 a lot though nostalgia is playing a part. There's no doubt they did put some love into this and I replayed Shenmue 1 just a few months ago so I have a good point of reference. I also played the Dreamcast games when they first came out.
They definitely tried hard, the combat lacks grappling but I'm finding it really nice still, the beginning game play and story flows a lot better than Shenmue 2 which I also tried to replay recently but stopped at the box lifting mini game which sucks.
Shenmue 3 actually flows better and some of the environments are stunning. Some of the characters are really well done, especially the children who have some adorable characterisations. Shen Hua is also portrayed as a very endearing, if slightly one dimensional character.
It doesn't seem like much but now Ryo can change clothes, it definitely adds some great customisation. There's also a ton of collectables and things to do. As someone who played Shemnue 1 recently, Shenmue 3 definitely holds up still, and it's also better in many areas.
I reckon I'm about half way through so that opinion could change, but I'm really enjoying it. Got plenty of games to play and RDR2 next on my shopping list, but quite happy to complete Shenmue 3 first.
I'm finding it easily as compelling as the first two games, more so than Shenmue 2 thanks to the box moving, though the rest of that game is mostly great.
Definitely worth playing if you enjoyed the other games and don't have rose tinted spectacles about them, I think playing Shenmue 1 and part of 2 again so recently gives me a good gauge of Shemnue 3's quality so far, which is that it's a good game and a worthy sequel.