Played a few hours of this over the weekend, I thought it was "OK" but not up to the same standard as the Forza Horizon series. The boats/planes help to mix it up a bit, but I did find the boat racing pretty dull in general, you don't really get much sense of speed as the 'tracks' are so wide, basically it is just holding down accelerate the whole time and trying to take the shortest route between two points whilst avoiding the wake of any boats in front.
Graphically it looks good and performs fine, however it has a really annoying 60fps cap, I can't believe developers are still pulling that stunt.
Physics don't feel quite on the money, difficult to put my finger on it but some stuff just doesn't feel right.... cornering is hit and miss in the sense that sometimes you can pull off 90 degree corners with ease and other times you either grind to a halt or carry straight on into a wall. Landing after jumps also seems to slow the AI less than it does your vehicle, especially in water I frequently found myself getting overtaken after a jump.