There's quite the variation in review scores for this. It looks like I game I could potentially enjoy (in small doses. I don't handle adrenaline well), but Jim Sterling's review worries me. He's a very smart guy, and he points out that the game routinely tells you to make decisions without giving you any information with which to base those decisions on, and that's front and center among things that constitute bad game design. Games like XCOM show us that making hard choices can be extremely rewarding, but such games also give us enough information to make an educated choice where we aren't surprised by the consequences (and if we are, it's our own fault). It sounds like The Evil Within tells you to make choices blind and then punishes you heavily for making the wrong one. That's not rewarding. That's just frustrating.
Some of it depends on how long the reload time is and what your tolerance is for being negatively rewarded with a grisly death. There is some entertainment to be had in making the wrong choice and seeing something over-the-top ridiculous then reloading quickly to make a different choice.
However, that does screw up the narrative flow a lot (and cheapens the threat level, of course). And if all of the gameplay is based on those types of actions, that won't be very fun.
I haven't played very long so far (maybe forty five minutes), and I've died numerous times. Sometimes doing the exact same, stupid thing until I figured out what I was meant to do. Each of those became far less frustrating in retrospect. The other deaths were hilarious. I mean terrifying.