Unless things change, I haven't found the game scary. It's spooky for sure but it's all monster closets and James is a machine with the wood/pipe. Nothing feels like a threat. Mostly just check for hidden enemies and that's getting to be quite old/predictable, if not silly at times. I have 180 handgun rounds, 44 shotgun shells, 9 health drinks, 10 syringes. I am near invincible.
Outside of the graphics and audio, I think my favorite thing is the level design, it's very good at guiding the player but it's also giving it a very linear vibe, which all of these games have but some mask it better than others. It reminds me of Dead Space and Fatal Frame 4.
The game also makes me think of how fickle reviewers are when it comes to games feeling "dated". This game feels dated as hell when it comes to gameplay/combat, there's nothing wrong with that but it's a good example of how people will alter their critiques when the thing they view as a negative is suddenly acceptable because it's in a game they are hyped about.
Overall a great game so far but outside the visuals/audio, it's not hitting the highs for me as others describe experiencing.
Edit- I'm at the Historical Society, roughly 10.5 hours in.