Forget if this one has been mentioned yet, but its pretty OK
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Haven't finished it yet, but has some bad status elements- getting assaulted by enemies enough times will give permanent debuffing "skills". I wouldn't put them on the same tier as bad statuses that you see in Quarta games but it similar (doesn't impact character visuals as much as I'd like).
You do play as the armor technically (as far as combat and narrative goes) so that might be a deal breaker for some.
No level-down specifically unless it shows up later in but it has degradation, parasitism, pregnancy and some other stuff.
I'd rate like a 6/10 though since I'm picky about gameplay and narrative- mainly cuz this game's narrative makes you want to degrade the character (its the armors goal to do so) as opposed to trying to sustain a pure character while falling victim to mechanics.