I'm in the same boat with the story and gameplay. So far, the sequel has been a lot (and I mean a lot) of empty space for mechanical experiments with the new engine and that's it. The do-overs completely killed my interest... I loved testing the game initially, but it's just not coming together yet. I don't even like a lot of the base design, although I haven't played the latest rebuild. Mixed feelings about seeing Serena as the main again, but the dreamspace might bring good stuff variety-wise!
I trust this dev to bring it all together, although it looks like a very long haul.