Alright I wanted to wait till I finished all 5 bosses and build myself a decently size village before I put a review.
With over 80 hours I feel comfortable to put a review on my experience and view on the game.

Pro's :

+ Open World: Massive map with different areas (known as biomes) it will take a few 100 hours just to explore whole map.
+ Crafting: Different tiers of gear and depth to it (with new tiers to come and expand on depth)
+ Building: Can build almost anything you want.
+ Survival: Doesn't have "tedious" survival to die if you don't eat and rather buffs from eating.
+ Lore/Game-play: Lore looks amazing so far and unique boss fights.
+ Social Aspect: You and your friends can build a village together.
+ Graphics: Very unique art style, impressive low-poly aesthetic and some of the most amazing weather effects I've seen in most recent games.
+ Early Access: For an early access game it already has over 80+ hours of content.

Cons :

- Open World : Not that many different biomes and will interact same enemies and area's
- Crafting : Has basic crafting mechanics
- Building : Building takes a while to get use to the snapping mechanic, so might be off putting for some.
- Survival : Might not be for the hardcore survival people due to not being able to die from not eating.
- Lore/Game-play : No voice acting and minimum lore at the moment, Combat is very basic and boss fights are too easy.
- Social Aspect : Only capped at 10 players currently, but no real PVP aspect to raid like vikings.
- Graphics : It's a pixelated art style and will put some players off from the game. (trust me game looks amazing tho)
- Early Access : Will have to wait for a lot of content to be added and fix most of above issues.

Overall :

Right now this game is already worth the $20 Price tag and I have full confidence it won't be abandoned. I 100% recommend giving this game a try and you won't be disappointed. Don't forget Odin is always watching ;)

PS: I will be updating this review every time I revisit the game after major content updates.