Bad graphics, boring gameplay, lack of things to do...
The "infinite universe" and "procedurally generated stuff" thing is driving people crazy, but from what i saw until now, it doesn't look good...
The worlds and creatures doesn't look that different from each one, you may think that every planet will be unique, they may be, but don't forget that the difference is limited to a few things, the game won't create a whole new species of animal that looks totally different from what you've seen before, what it's gonna do is randomize that animal to look different from that animal you seen before but with the same elements that you did see before, understand what i'm saying?
Besides that, what do you do in this game at all? Storyline, quests, multiplayer, anything? NO! The only thing i see they doing on the videos is shoot stuff and collect stuff, that's all! Then they come with all that boring stuff like learning an alien language and naming cratures and planets, omfg stop...
I'm not saying it's definitely going to be a failure, i'm just saying what i think based on the many gameplay videos i've seen, but as always, i'll keep my "no pre-orders" rule for this one.