They finally got the style right. The newer stuff didn't look interesting, the first couple of games did and the remake looks ace. Technically it's probably not far removed but it just looks right this time,. Previously I wished they stuck with the Ys Oath/Origin style, this one I like & don't mind the change.
The current style for Daybreak is fine, Falcom has improved a lot since their early 3D days. In Daybreak, the characters models and combat/craft animations are really cool. The few mocapped cutscenes they have are excellent.
The visual fidelity of the environments is... decent. I wish it were better but I'm fine with it. Remember that they are literally ~60 dudes developing one or multiple games per year.
The big visual aspect in which Falcom hasn't improved much (or not enough) is lighting and shading. Those are still very basic in Daybreak and it hurts the image a lot, it looks very flat at times. I don't expect AAA global illumination and all that shit, but something better that gives more depth to the overall image would be appreciated.
With Sky remake they might get away with simple lighting since the visual is stylized, but still.