As a lone wolf shooter of, say, the COD sort, it is definitely a mess, since you can't play like that for long. So the promises of it being a good basic infantry shooter, a la COD, alongside the objective based gameplay are sort of crap. The objectives are really well thought out, though, and make decent use of the massive maps. I've never even made it into a squad leader role, but I'm told that the command roles are awesome.
Oh yeah, and the queue system will not sit well with gamers in general. I suppose PS3 owners are used to it after the initial COD4 problems, where you sometimes had to wait 5 minutes before the game found a match.
Basically, this is going to flop hard, but I expect it to have one of the most dedicated fanbases around. I'll probably just stick with Bad Company 2 at least until MOH: Body of Lies the Game comes out.
edit: I really didn't think the graphics were that bad. It's ugly, but that's not because of technical shortcomings. I wish more shooter developers would catch on to the idea of using (natural) beauty to frame violence.