I figured it might be worth starting this into it's own thread rather than keep hijacking the "What are you buying" one. I have played for about 6 hours and I really like the game.
I'll repost my general thoughts and comparisons to Overwatch with some additions:
So far I'm not able to put my finger on what makes this so much more enjoyable or sticky for me than Overwatch was, but Paladins clicked right away (despite how much I don't like the name, hah). I played like 2 games and then wanted to pay to get access to more heroes so I got the Founder's pack. Overwatch wasn't bad by any means, but I felt very underwhelmed and got kind of bored. Maybe it's a hype vs expectations thing? Or pacing?
Overall this is another character-based 5v5 objective FPS with multi-match games. Each match has 2 phases, a capture phase and a push/defend phase (push by whomever won the capture). Winning the capture round gets you 1 point and if the pushing team wins the second phase they get a second point. The neat thing is that if the defending team holds the push to less than half way (I think), then they get a point for defending successfully. The time for each round is fairly limited, but there is a great Overtime mechanic so the round keeps going as long as the objective is still being contested. First team to 4 points wins the game, so it may be over in 2 rounds or up to 4 if things are very well balanced.
Characters are slotted into 1 of 4 categories: Front Line, Attack, Flank and Support. Each character can only be chosen by a team once, and that selection screen is clear to show you a checkbox that your team has (or doesn't have) at least one of each type. There is a "rip off" feel to a few of the characters, like a they have similar visuals or powers to Overwatch characters, or at least that's what people have been saying. Obviously a lot of the Overwatch characters were in turn influenced by DOTA, Heroes, etc, so that's arguable.
It doesn't bother me that much, to be honest, since this is clearly not just a cheap also-ran being shoved out the door by a fly-by-night company. These are the same guys that made Tribes: Ascend and Smite, so they know what they're doing and I have no doubt that they'll be supporting it for a long time and defining their own look and feel.
Like Overwatch, this is definitely a shooter first, MOBA-influence second (unlike say Battleborn, which was a poor shooter in my opinion). The action is fast and often frantic, the shooting feels good and the powers are frequent enough that I use them all the time. The rounds go relatively quick, and even if there is a bit of a stalemate in a capture or push it never feels like there is too much time spent at any one thing, and that you have a chance to break through.
There is also a loadout card system, that basically allows you to pre-configure which of your powers you want to be better. I was skeptical of it at first (I hate collectable card type things), but it seems fine and you have a default loadout that is good for every character. This loadout is balanced on a points-based system, so you can have 3 great cards, or 2 decent with 3 mediocre ones, etc.
It also has in-match upgrades to buy with disposable currency you gain from normal objective stuff. Importantly, unlike MOBAs there are relatively few and you have like 40 seconds between every round to buy them, so you aren't doing it during the match while feeling like you are wasting time that should be spent on the battlefield.
It's free to play, so you can try it out with a few characters with no overheat. And to get the Founder's pack that gets you all characters now and in the future (plus 20 chests), it's only $13.
Oh, one down-side so far is that since it's still new and still in Early Access, a lot of the extra visual customization is a bit underwhelming. Some characters only have color swap skins, some don't have extra heads yet, etc. But I'm sure that's all coming.