Good for more than 60 hours of mindless fun, but don't expect anything amazing.
In the beginning, everything is easy-going, and the cell-shaded graphics are pretty amazing for when the game was made. The nature of the game is very repetitive, but the exploration and nice visuals will keep gamers entertained.
After a certain point in the game, you gain the ability to teleport back to the main town regardless of where you are (except during boss battles), so that is really convenient if you need healing or if your inventory is full.
Now on to the bad parts.
The AI's (other members of your party) are pretty stupid. They constantly get stuck in corners, get in the line of the fire by themselves and get are thus killed, and perform actions that are not necessarily helpful to the battle. In order to not get them killed (waste of healing waters in order to revive them), you would have to hold the R2 button to order them to stand where they are. In most battles, it would be easiest to just let Max (the main character) hack away while the other 2 stand in a safe corner, away from enemy fire.
Also, shopping, weapons/abilities upgrading are all done in one place, so after a while you really get sick of the music and the scenery.
One other thing is the difficulty of the game. There are occasional hard bosses here and there, but the true difficulty comes near the end, where it jumps so much that hours of grinding is necessary just to not be killed by 1 or 2 hits.
Not sure where the level cap is, but I finished the game with Max at lv139. This game is much longer than I expected. I thought it would probably last 40 hours or so, but I ended up playing for almost double that much time.
Overall, this game may possibly keep you entertained for a while, although be ready for the frustration that comes near the end.