Holy shit, this game is now the highest weight-rated game on this site. Just passed DIK.
I never play games this early into their development because I hate only getting to play a tiny amount of content before waiting months for an update, so I can't give my own opinion on the game itself; but I feel like it can't possibly have enough quality content this early in the story to warrant this much of a craze. Am I wrong? Is it really that good?
Is it over-hyped? Maybe; I guess that depends on what you expect from it, you would have to decide that for yourself.
I generally avoid first releases myself (actually I generally avoid anything with less than 3-4 updates unless I ma REALLY bored), but dove into this because Caribdis has a solid development rep. There is a good amount of content for a v0.1, and a solid foundation for the ongoing story.
There is currently a lack of lewdz, which really isn't surprising since it is story focused & v0.1, but I personally believe it is worth the play.
My only concern is that all of the hype is going to result in some kind of backlash; either fans turning rabid at every slight thing they don't like, or Caribdis getting a little burnt-out from the pressure of trying to live up to the hype. That is something that the future will have to answer though.