+Playground Games has done such a good job with this one. Bottom line, I'd say it's better than Horizon 4 in just about every aspect besides the car list. Knowing them, I'm sure this will be rectified fairly quickly. Mostly everything else has been only "good" at worst, while being pretty brilliant most of the time.
+The engine sounds are improved across the board, except for one consistent flaw that I will discuss in the negatives. I find this game to be much more rewarding to play than Horizon 4 based on that aspect alone. Some of my favorites to drive now are the Mercedes-AMG GT 4-door, Shelby GT350R, and the new Alpine A110. Basically anything with a V8 or 4-cylinder sounds immensely better and more accurate than they did in Horizon 4. Not all are perfect, including the ones listed above, but man are they so much better.
+Cars feel better to drive than Horizon 4 overall. I've noticed changes in the braking and handling models that are subtle, but make enough difference that it gives the cars more character among each other.
+The story and campaign have felt significant and rewarding so far. Your character having dialogue has added more depth than I thought it would, and each Horizon Story I've played at least a bit of so far (especially the Street Racing one) have been lots of fun. The characters may be a little over the top some times, but I think that's how Horizon is supposed to be. Speaking of which, the parade float bit and some of the dialogue has gotten quite a chuckle out of me this time around, and the characters actually have some personality.
+The map is stellar. I have virtually no complaints about it other than it could do with more tight roads. The diversity in the biomes is both beautiful and fun to drive around, and I haven't even driven on half the roads yet! One of my favorite spots at the moment is definitely the coast near Playa Azul and the Apex Festival, the surrounding environment is just absolutely gorgeous. I also like the canyon area and of course Guanajuato. There hasn't been a dead spot on the map from what I've explored so far.
+Returning features and gamemodes feel well-implemented. The Eliminator is as fun as ever if it's to your tastes, and the new online modes (for what little I've played of them) are pretty decent. Features that have gotten a facelift, such as the new customization UI and such, have added so much to the game through such a small handful of changes. I know the new car selection UI is polarizing, but I'm actually in the camp that likes it.
+I am actually blown away by how much I actually like the soundtrack so far. Horizon Pulse is my favorite right now even though I'm one of those crotchety Horizon 1 fans that keeps begging PG to bring back Indie Rock to Pulse. Levitating, El Punto Final, The Valley of the Pagans, and the instrumental Full Heart Fancy are my favorites. XS is pretty good too. There are only two songs that I've found so far that I don't care for, being Pulse's "Sunshine" (which is annoying but tolerable so far) and XS's "Karma the Knife" (which is in "makes my ears bleed" territory, sorry). Hospital is pretty decent so far too, maybe not on the level of Horizon 3 and especially not 2, but it's pretty good.
+They've added several QOL features that I think deserve a lot of recognition, especially regarding the UI. The tag letting you know what kind of tires are on a car or tune is very helpful. Also, the fact that you can paint both tones of a two-tone paint in the same menu now is a small but mighty feature. Wheelspins are much better now too with less clothing/emotes. As well, the emotes are not in your face anymore either I feel like, which is great. The fresh loading screens, the pre-race menu, and the little black bars that appear right before you finish a race are all great. All these small features make the game more enjoyable to play as a whole.
+/-The new upgrades are great, but there are still certain cars and instances that leave me wanting more. However, I'm very happy they have managed to cram as many new upgrade parts into the game as they did.
NEGATIVES, which are gonna be nitpicky because there's not a lot significantly wrong with this game:
-The car list, while solid, is quite stale at this point. The new cars that were added were great picks, but there were only 2 returnees that were absent from Horizon 4 (being the SC300 and the FJ40). We're down almost 200 cars from Horizon 4 as well, which is quite a blow. Most of those cuts are the quirky (and featury!) and classic cars, which are some of my favorites. I hope that we will see many of them back soon.
-The absence of the Italian Stellantis manufacturers hurts, especially after how much Mike talked up the Stratos's engine sound. Yes, this is the third time I've mentioned the Stratos and Mike. Yes, I'm still butthurt over it.
-The game is quite buggy here at launch (I play on PC), although not as much as I was expecting it to be. This hopefully won't still be a negative as we get further into the game's life and they patch bugs.
-Some QOL gripes I've had with the series remain among the ones that were fixed or adjusted. I still can't view a custom livery close up before I apply it, which is honestly not a good thing with how closely they monitor liveries for profanities/etc. Switching a car in freeroam via Car Delivery also is still a bit random in which direction it places you on the road. I also don't like how Drivatars always change cars to match your car division in freeroam (even when you're not doing a championship). However, it's better than them all defaulting to the 3 starting cars in Horizon 4. That leads me to my next gripe.
-Drivatars are STILL terrible after all these years. They seem to be a bit better in races maybe, but in freeroam they are seriously the worst. I have been divebombed by so many that decide they want to pass the traffic car in front of them at my expense, and their behavior is still awful across the board.
-There is a bit of an issue with engine noise balance, which may be a bug or by design. Hopefully they fix it so engines can be heard properly.
-While the UI may be improved for the most part, it's still a bit finicky in some areas. I think the accolades screen in particular is tough to navigate (especially if you are trying to collect rewards).
-In its effort to give you options on what to do next, the game tends to spam you with dialogue and popups and automatic route setting, which can be a little much sometimes. As much as I like the focus on the story and campaign, it feels like I have to catch my breath after every event is over just because of how much I have to go through AFTER the event. Maybe that's a petty complaint, but it's worth noting as it's something I thought about.
VERDICT: Overall, this game is what a satisfying Horizon experience should be, and it's what Horizon 4 wishes it could have been. Hopefully it will have quite the longevity.