Okay, so I still need to go through Episode Adachi and get the True Ending but I have seen most of the plot at this point. Overall, the story is a mix bag but an improvement in terms of execution over the original P4 Arena. Frankly, I don't see any of this continuing with P5 but rather feel the endings show we may see a P4 Arena Omega or some other nonsense.

I'll explain my final thoughts once I finish the last few elements of the game.