I'll keep this short. The game is well written, has a compelling story, is expertly voice acted, has decent graphics (especially with ray tracing on), and is extremely atmospheric... but all that good stuff is ultimately undone by a hopeless old skool Resident Evil 1 style fixed camera that makes things difficult to see and infuriating to navigate.
The Medium's gameplay itself is fairly standard - very similar to many adventure games (i.e. explore, find the key to open the lock, read the the notes, examine objects etc), with a handful of "action" chase sections thrown in (there is no combat though). The game alternates between the real-world and the spirit world settings and often, via a cool split-screen presentation, you occupy both at the same time. It's a pretty nifty and well-done gimmick.
Anyway, does anyone wonder why this type of camera went out of fashion? Well this game demonstrates it perfectly - i.e. it sucks. Unless you really want the nostalgia itch scratched, I just can't really recommend The Medium.