As some others have commented, it does not appear to be as developed at this point as I expected it to be.
I like the character creation, there are plenty of choices for race, class, etc.
Needs more/better choices for hair, especially better hair.
Given the limits of the beta there seems to be a good variety of npc's to interact with, creatures and enemies to slay, etc.
I have to say I like the idea of getting back to having to actively "search" for hidden items rather than having the hotkey point a neon arrow at them.
Ultimately though the massive amount bugs, which even a beta shouldn't have at this point, have made this unplayable for me at this point.
Can't finish quests, can't lockpick, can't use the grapple, can't stop getting one-shotted because my weapons and armor have disappeared ... again.
A beta test should be about testing the gameplay and mechanics, not getting slapped in the face by massive game-breaking, bugs that QA should have easily spotted and fixed during alpha.
For a good idea of what a beta release should be, check out Grim Dawn by Crate.
Pillars of Eternity was, and still is, the game I anticipate most.
However, if this beta is any indication, I'll be waiting for the final release longer than I thought.