I'm not so sure I think it's an evolution of point and click adventure games-- Farenheit is more about narrative than it is puzzles and discovering the distinguished mentally-challenged logic of a designer-- but it definitely is an adventure game. Eurogamer's review of IP is great in how it describes IP as an adventure game where Cage sacrificed core adventure principles to squeeze action into the game...and it really, really stands out.
The story, characterization, character drama, etc., is all top notch for a bit and then it becomes poopy but it's so, so good at first that you won't care. There's a 100% obvious jump the shark moment in the game and from that point on you might as well shut it off.